SEBA Bank diversifies its DeFi service
On its website, Swiss crypto-bank SEBA announces that it has added Chainlink’s AAVE and LINK tokens to its decentralized finance (DeFi) service.
🔉 𝗦𝗘𝗕𝗔 𝗕𝗮𝗻𝗸 𝗔𝗱𝗱𝘀 𝗦𝘂𝗽𝗽𝗼𝗿𝘁 𝗳𝗼𝗿 # 𝗔𝗔𝗩𝗘 𝗮𝗻𝗱 # 𝗖𝗵𝗮𝗶𝗻𝗹𝗶𝗻𝗸 𝗧𝗼𝗸𝗲𝗻𝘀 𝘁𝗼 𝗘𝗻𝗮𝗯𝗹𝗲 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 # 𝗗𝗲𝗙𝗶 𝗔𝗰𝗰𝗲𝘀𝘀 🚀
Read the media release 📄 https://t.co/VjH4u7YIjZ & learn more about SEBA Bank, your trusted partner🛡️ pic.twitter.com/IxlUp9wU27
– SEBA Bank AG (@WeAreSEBA) August 12, 2021
The objective of this addition is to provide access to DeFi to institutions. The tokens selected remain very well known in the ecosystem and alone represent nearly $ 18.5 billion in capitalization at the time of writing.
“With this integration, institutions will now be able to manage these ‘DeFi’ tokens across SEBA Bank’s full service offering, namely cryptocurrency investment, custody and trading,” the statement added.
This decision was notably based on the work of SEBA Research, its research institute dedicated to cryptocurrencies. The latter applies the highest standards and complies with the research guidelines of the Swiss Bankers Association.
In connection with this news, Alistair Heggie, COO of SEBA Bank, said:
“Investor interest in digital assets is growing rapidly, and many of them want to go beyond Bitcoin (BTC). SEBA Bank offers investors tailor-made access to the returns and benefits of diversification. We are happy to bring our cryptocurrency expertise to build exposure to this new asset class. “
An acceleration of the DeFi service
SEBA Bank was launched in September 2018 and is authorized by the Federal Financial Market Supervisory Authority (FINMA).
It offers its clients a cryptocurrency trading and custody service. As such, it supports the following assets: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Stellar Lumen (XLM), Bitcoin Cash (BCH) and the USDC stablecoin.
Moreover, this is not the first time that the crypto-bank has added tokens linked to decentralized finance. Indeed, it had already announced the extension of this service during the month of May 2021 by offering three new tokens: Uniswap (UNI), Yearn Finance (YFI) and Synthetix (SNX).
As a result, the crypto-bank continues to develop its DeFi service, in particular by accelerating the adoption of major tokens to facilitate the onboarding of local institutions.
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About the Author: Anthony Bassetto