Swiss cryptocurrency bank SEBA has announced its expansion into the decentralized finance (DeFi) market. SEBA users will now be offered support with Synthetix (SNX), Yearn Finance (YFI) and Uniswap (UNI).
Cryptocurrency bank SEBA will now offer support for decentralized finance tokens. The news means users can now trade and hold SNX, UNI, and YFI. Synthetix and Uniswap are among the largest decentralized finance protocols available, while Yearn Finance is a DeFi financial aggregator that maximizes agricultural returns.
The Synthetix protocol has grown significantly since the start of 2021, growing 250% since January. Synthetic now has a total value locked (TVL) of over $2 billion. An increase of around 90% since the start of the year and up 500% since January 2020.
The Uniswap protocol has become the keystone of the DeFi market. AMM-style decentralized exchanges (DEX) allow users to act as a different liquidity provider than those based on order books. Recently, weekly trading volume crossed the $10 billion mark, setting a new record for Uniswap.
Yearn Finance, meanwhile, had been falling since hitting a new all-time high on February 12, but broke that mark on April 18, when the price hit $57,174 on April 18. As for value locked, Yearn Finance has around $275 million, with increased liquidity on its v2 vaults since launch.
Referring to the selected crypto assets, SEBA states that “the mechanism of value accumulation, tokenomics and the underlying protocol play a central role in this process”.
SEBA clients also have access to their tokens in each of the bank’s investment solutions. These include personalized and actively managed client portfolios. This is in addition to the nine cryptocurrencies with which SEBA currently works, such as bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), stellar lumen (XLM) and the USDC stablecoin.
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