Crypto bank SEBA adds support for DeFi tokens, including Uniswap

May 3, 2021 | The Block News | 0 comments

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Crypto bank SEBA announced Monday that it has added support for three decentralized finance (DeFi) tokens: Uniswap (UNI), Synthetix (SNX), and Yearn Finance (YFI).

The development means SEBA’s clients can now trade and custody these tokens with the bank. They will also be able to access these tokens across the bank’s investment solutions, including customized and actively managed client portfolios.

“Investor interest in digital assets is growing rapidly, and many want to go beyond bitcoin,” said SEBA Bank’s COO Alistair Heggie. The bank currently supports six crypto assets: bitcoin (BTC), ether (ETH), litecoin (LTC), Stellar lumen (XLM), bitcoin cash (BCH), and the USDC stablecoin for its crypto offerings.

The addition of SNX, UNI, and YFI is based on SEBA Research’s insights, said the bank, adding crypto assets are selected based on both quantitative and qualitative metrics. “The value accrual mechanism, tokenomics, and the underlying protocol play a central role in this process,” said SEBA.

Uniswap and Synthetix are two of the largest decentralized exchange protocols, while Yearn Finance is a leading yield farming aggregator, having over $3 billion worth of assets locked in the protocol, according to tracker DeFi Pulse.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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