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Customers can currently generate yields on Polkadot, Tezos, and Cardano, but the bank stated that more proof-of-stake protocols would be added in the coming months.
Customers of the Swiss-based financial institution SEBA Bank will soon be able to earn returns on their cryptocurrency investments.
SEBA Bank announced on Wednesday that as part of its SEBA Earn programme, investors could use its Bitcoin (BTC) and Ether (ETH) lending services to generate yields. According to the bank, which specialises in digital assets, it intends to integrate support for other cryptocurrencies.
“As institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in earning services such as staking, DeFi and centralized crypto borrowing and lending,” said SEBA Bank CEO Guido Buehler.
In addition to centralised lending and borrowing, SEBA stated that institutions would be able to earn returns through its staking and decentralised finance, or DeFi, programmes. Customers can currently generate yields on Polkadot’s DOT, Tezos (XTZ), and Cardano (ADA), but the bank stated that more proof-of-stake protocols would be added in the coming months.
SEBA has been involved in the crypto space since its inception in 2018. It was one of the first banks focused on digital assets to obtain a custody licence in Switzerland. The Bank of France chose SEBA to participate in its experimental digital euro pilot project last year, with the goal of investigating the feasibility of CBDC in cross-border payments.