Swiss cryptocurrency bank SEBA expands its offering by supporting three DeFi tokens (decentralised finance)
Swiss-based regulated cryptocurrency bank SEBA announced yesterday that it now supports DeFi tokens. For the first time, SEBA Bank lists DeFi tokens and starts with three, indicating that additional tokens could be added in the future.
SEBA announced this in a blog post and stated that its goal is to create a seamless, secure and user-friendly connection between digital and traditional assets. SEBA customers now have access to Synthetix (SNX), Uniswap (UNI) and Yearn tokens.Finance (YFI).
“These new tokens are part of SEBA Bank’s continuously growing offering and mark its entry into the DeFi world, supporting the tokens of the most important DeFi protocols on the market. SEBA Bank customers will be able to benefit from these new tokens in all services, including investment solutions, custody and trading“according to the bank.
Uniswap and Synthetix are two leading decentralized exchange protocols and have enjoyed enormous demand in recent months. Yearn.Finance is the leading yield farming aggregator and currently has assets worth nearly $ 3.5 billion that are locked in its minutes.
Alistair Heggie, Chief Operating Officer (COO) at SEBA Bank, said the expansion was necessary as demand for cryptocurrencies was rising rapidly and going well beyond Bitcoin (BTC). “SEBA Bank offers investors tailored access to the return drivers and diversification benefits of this new asset class. We are pleased to provide our expertise in the field of digital assets to strengthen engagement in this new asset class“Heggie continued.
After receiving these three tokens, SEBA now supports nine cryptocurrencies, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Stellar Lumens (XLM), and the USDC Stablecoin.
SEBA stated that the DeFi tokens were selected by SEBA Research, which provided analysis, insight and access to the new asset class. SEBA Research adheres to the highest standards in the selection of tokens and is compliant with the research guidelines of the Swiss Bankers Association.
According to Cryptobank, the new tokens will be available for all their investment solutions, including specially designed and actively managed client portfolios. Decentralized exchanges have become an alternative to central trading platforms. Their trading volume has increased in recent months and reached a new all-time high of 77 billion US dollars last month.