Due to the growing demand from institutional investors for DeFi products, the Swiss SEBA will support additional coins in the future.
As of August 12, 2021, SEBA Bank will offer its institutional clients services – investment, custody and trading – for the DeFi tokens Aave (AAVE) and Chainlink (LINK). This is according to a press release obtained by Yellow Rocket Agency. According to it, the integration of the two tokens was carried out as part of a thorough research. AAVE offers users the ability to take out and make crypto loans. Chainlink aims to make real-world data accessible to blockchain projects.
SEBA: Institutional interest in cryptocurrencies is growing.
SEBA Bank’s expansion of its crypto integration underscores a trend that has been evident for several years: Crypto interest on the part of major investors and institutions continues unabated and has long since ceased to be limited to Bitcoin.
Investor interest in digital assets is growing rapidly, and many are looking to move beyond investing solely in Bitcoin. SEBA Bank now offers institutional investors tailored access to the return and diversification benefits of this new asset class. We are pleased to offer our expertise in digital assets to help build a portfolio in this new asset class. SEBA Bank aims to build a bridge between the traditional financial world and the newly evolving world of digital assets. In doing so, processes should be simple, smooth and secure,
SEBA COO Alistair Heggie is quoted in the press release.
Institutional investors will now be offered the opportunity to safely store ERC-20 tokens on a cold wallet. In addition to Bitcoin and Ether, USD Coin (USDC), Uniswap (UNI), Yearn Finance (YFI), Synthetix (SNX), Chainlink (LINK) and Aave (AAVE) are supported. The selection process of newly added tokens is thereby based on quantitative metrics, tokenomics and qualitative analysis.
SEBA Bank is the first crypto bank in Switzerland and is licensed by FINMA, the Swiss financial regulator. Founded in 2018, the bank’s main clients include professional investors, family offices, banks, asset managers and blockchain companies. ToSEBA Bank also cooperated with the French central bank to explore the potential of digital central bank money (CBDC).