The bank, which specializes in cryptoassets, said it intended to provide backing for additional cryptocurrencies in the future. When it comes to institutional investors, the demand for crypto assets is widening, according to SEBA Bank CEO Guido Buehler: “They are interested in income solutions like as staking, DeFi, and centralized cryptocurrency lending.”
Along with centralized lending and borrowing, SEBA claimed institutions will be able to generate yields via its staking and decentralized finance initiatives, or DeFi. Tezos (XTZ) and Cardano (ADA) are now the only proof-of-stake covenants available to Polkadot clients, but the bank stated that it intended to add others in the forthcoming months.
SEBA has been active in the cryptocurrency sector since its inception in 2018, when it became one of the foremost Swiss banks to concentrate on cryptoassets and get a custodial license. It was announced in 2020 that the Bank of France has chosen SEBA to partake in a pilot study to test the viability of cross-border payments using central bank digital currencies.