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SEBA Bank Introduces Program for Clients to Earn Yield on Crypto
The Swiss regulated firm is tapping into demand from institutions for income from digital assets.
Digital-asset platform SEBA Bank has introduced a product that will allow clients to earn yield on their crypto holdings.
- The Zug, Switzerland-based firm’s SEBA Earn will let institutions generate income from proof-of-stake protocols such as Polkadot, Tezos and Cardano, with other networks to be added over time.
- The platform will also enable investors to lend bitcoin and ether through SEBA Bank, the company said Wednesday.
- Swiss financial regulator FINMA-licensed SEBA says it will be the first fully regulated bank to offer investors access to yields in decentralized finance (DeFi) protocols.
- Launched in 2018 as a crypto-first banking service, SEBA offers cryptocurrency trading and custody to institutional clients. It received a Swiss banking license from FINMA in 2019, the first time a company whose core business was in digital assets was licensed as such by the regulator.
STORY CONTINUES BELOW
Read more: BVNK Aims to be Crypto Bank in All But Name
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
