Crypto bank SEBA adds support for DeFi tokens, including Uniswap

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.

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Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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