Customers of Swiss Crypto Bank Seba Allowed To Earn Yields against Digital Currency Holdings
A new service has been launched specifically for the customers holding digital currency/assets by a major Swiss digital asset banking company called “Seba”. Under the newly launched service, the customers will now be allowed to earn yields against their digital currency holdings. Seba will lend them financial services such as granting of loans for the purposes of enabling them to create yields through lending their digital currencies such as Ethereum and Bitcoin with the Swiss crypto bank.
Seba Bank is one of a kind digital banking service provider company that is headquartered in Switzerland. It came into being in 2018 by obtaining a banking service license from the Swiss Financial Market Supervisory Authority i.e. FINMA. The bank focuses on bridging the gap between traditional and digital assets and renders services in this regard.
The digital banking company has announced the launching of a new service for its customers. It informed that a service called “Seba Earn” has been made available to Seba Bank’s customers as well as to non-banking customers. According to Seba Bank, the offer is benefitting for the customers as well as for the bank because it is an institutional upgrade. The bank further stated that the offer will allow customers to create yields on their own against their digital currency holdings.
Seba Bank pointed out that there is huge demand from the institutional sector which wants to manage yields against its crypto holdings. However, against such a huge demand, which continues to grow rapidly, the opportunities of managing yields are limited. This is why it would be in the interest of the customers if Seba Bank would let them borrow and lend for yield generation. Seba Bank commented that through Seba Earn, an efficient and robust staking management platform will be established. This platform will then allow users to earn rewards against their investments with notable networks such as Cardano, Tezos, and Polkadot.
The bank also said that initially the reward earning option will be limited to the three networks. However, with the passage of time, the offer will be expanded to include other prominent protocols as well. But it will take a considerable amount of time which could spread over 6 to 8 months, stated Seba Bank.
Additionally, the new program will also allow the customers to avail of centralized services in terms of borrowing and lending. For example, for creating yields against digital currency holdings, customers can lend their ETH or BTC funds to Seba Bank directly. The bank also committed to expanding the program for additional digital coins in the near future.
Seba Bank’s CEO, Guido Buehler, stated that no doubt that the interest of the institutional sector in crypto is ever-growing. It is, therefore, necessary and essential that Seba Bank continues to come up with the most relevant customer-oriented programs such as Seba Earn.