According to the latest reports, SEBA Bank has made a development into the cryptocurrency sector. The firm has announced that it is aiming to lunch services for its customers, allowing them to benefit from their cryptocurrency holdings. The Swiss-based financial institution has announced that the users holding cryptocurrencies will be able to earn yields on them.
The announcement in regards to the launch of the new yielding service was made by SEBA Bank on Wednesday, October 13, 2021. SEBA Bank has announced that for now, the users will be able to lend two major cryptocurrencies through the lending service. These cryptocurrencies include Ether (ETH) and Bitcoin (BTC). By lending either or both of the cryptocurrencies, the users will be able to generate yields. The firm has announced that it has named the project as SEBA Earn program.
SEBA Bank is prominently known as one of the most advanced and innovative digital banks in Switzerland. The bank has made several developments in the digital assets space and it plans on continuing with its trend of digital advancements.
The team behind the SEBA Earn program has revealed that for now, they have introduced ETH & BTC. They will monitor the adoption, utility, and profitability of both cryptocurrencies for the users. They will be making necessary additions, amendments or removals, whenever necessary.
Once they are fully confident of the products and have made the necessary changes to the program, they will be moving to the next step. The firm has revealed that it will be introducing more cryptocurrencies in the following months.
Guido Buehler, the CEO at SEBA Bank talked about the cryptocurrency market and its overall growth. Buehler stated that the cryptocurrency sector has been becoming really attractive for investors from all over the world. With the passage of time, the industry has gained tremendous growth and adoption level.
With cryptocurrencies growing larger and lucrative with the passage of time, the investors’ interest has been growing tremendously in cryptocurrencies. Therefore, it was really important for them to go ahead and adopt cryptocurrencies and start offering them to their users.
Over time, they have realized that the majority of the investors are interested in staking the cryptocurrencies that offer them passive opportunities for generating funds. Furthermore, the investors are also interested in products such as cryptocurrency lending and cryptocurrency borrowing. Investors are interested to invest in cryptocurrencies whether the platform is decentralized or centralized.
SEBA has revealed that for now, they have the decentralized finance and staking programs in place, so the investors can benefit from them. For now, the investors are able to generate yields through cryptocurrencies including Cardano (ADA), Tezos (XTZ), and Polkadot (DOT).