Switzerland’s SEBA Bank launches program for customers to earn yields on crypto
Clients of the Switzerland-based financial services, SEBA Bank, would soon be able to enjoy yields on their crypto holdings.
As per an October 13 announcement, SEBA Bank has said investors would be able to use Bitcoin and Ether lending services for generating yields as a part of its SEBA Earn Program. According to the bank, it is currently focusing on offering digital assets and plans on integrating support for other cryptocurrencies soon.
CEO of SEBA Bank, Guido Buehler, has said that as institutional interest in digital assets is accelerating, investors are growing a broader appetite for crypto, being particularly interested in “earning services like staking, centralized crypto borrowing, DeFi and lending.”
SEBA has also said that institutions can now earn returns through its staking and DeFi, in addition to centralized borrowing and lending. At present, customers can generate yields on Tezos, Polkadot and Cardano, but the bank shared that it plans to add more proof-of-stake protocols in upcoming months.
SEBA is one of the first banks of Switzerland that had acquired the custody license back in 2018 when it was founded. Since then, it has been involved in the crypto space actively.
In 2020, the Bank of France had selected the Swiss SEBA Bank for participating in its experiment of a digital Euro pilot project that was aimed at exploration of the feasibility of CBDC for cross border transactions and payments.
