SEBA Bank’s evolution: support for DeFi tokens and crypto assets
SEBA Bank’s evolution: support for DeFi tokens and crypto assets
Crypto

SEBA Bank’s evolution: support for DeFi tokens and crypto assets

By Riccardo Mangiapane - 12 Aug 2021

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Today SEBA Bank announced that it is expanding its offering in the DeFi market with the addition of support for the tokens of Aave (AAVE) and Chainlink (LINK).

With this integration, institutions will now be able to manage these DeFi tokens through SEBA Bank’s full service offering, including investment, custody and trading.

Founded in April 2018 and headquartered in Zug, SEBA Bank is the only global intelligent bank that provides a fully universal suite of banking services, offering both traditional and digital ones.

In August 2019, SEBA Bank received its Swiss banking licence; this was the first time a regulator such as FINMA had granted a licence to a financial services provider with a more developed capability in digital resources.

CVVC Global Report and CB Insights named SEBA Bank among the top 50 companies within the blockchain ecosystem in 2021.

SEBA Bank and DeFi

On the other hand, we have DeFi industry pioneers, Aave and Chainlink, who with a combined market capitalization exceed $12 billion.

AAVE, formerly ETHLend, is a well-known decentralized finance project, with a related cryptocurrency of the same name, that focuses on executing loans with collateral in the form of crypto, using a simple interface and a scheme that has revolutionized this sector.

Chainlink is an open-source technology that allows smart contracts to interact with data outside of blockchains; it was created and is being continuously improved by a large community of developers, researchers and users who share the goal of turning Chainlink into a public good for the benefit of the entire blockchain ecosystem.

To support the rapidly accelerating demand for crypto assets, SEBA Bank is integrating a set of ERC-20 tokens. Earlier, in March, SEBA Bank had already included in its offering Synthetix and Uniswap, major decentralized finance protocols, and Yearn Finance the DeFi financial aggregator that maximizes returns from yield farming.

On top of this, there are also cryptocurrencies that SEBA currently works with, such as bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), stellar lumens (XLM) and the stablecoin USDC.

The expanded range of tokens will then be available through SEBA Bank’s investment solutions, including customized and actively managed client portfolios within purpose-built mandates.

The delivery of SEBA Bank’s digital asset banking services is supported by SEBA Research, which provides analysis and insight, applying the highest standards and adhering to the guidelines of the Swiss Bankers Association. Digital assets are selected according to a rigorous process that combines quantitative metrics with in-depth qualitative analysis.

In addition, SEBA Bank has recently run successful trials with Banque de France and Banque Internationale à Luxembourg, testing the use of a Central Bank Digital Currency (CBDC).

Alistair Heggie, COO of SEBA Bank, commented: 

“Investor interest in digital assets is growing rapidly, and many want to go beyond Bitcoin. SEBA Bank offers investors bespoke access to the return drivers and diversification benefits of this new asset class. We are pleased to provide our expertise in digital assets to build exposure in this new asset class”.

Riccardo Mangiapane

Graduated in Management and Finance at LUMSA University in Rome. Passionate about fintech and crypto, he follows with interest the events in the financial markets, cooperating as part of a team in the analysis of several case studies during his academic career.

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