Crypto

Cryptobank SEBA now supports DeFi tokens

Swiss cryptocurrency bank SEBA has announced its expansion into the decentralized finance (DeFi) market. SEBA users will now be supported with Synthetix (SNX), Yearn Finance (YFI) and Uniswap (UNI).

Cryptocurrency bank SEBA will now offer support for decentralized finance tokens. The news means that users can now trade and save SNX, UNI and YFI. Synthetix and Uniswap are some of the largest decentralized finance protocols available, and Yearn Finance is a DeFi financial aggregator that maximizes farm yields.

The Synthetix protocol has grown significantly since early 2021, up 250% since January. Synthetic’s total blocked value is currently in excess of $ 2 billion. An increase of about 90% YTD and 500% from January 2020.

Uniswap has become a cornerstone of the DeFi market. Decentralized exchanges such as AMM (DEX) allow users to act as liquidity providers other than those based on order books. Weekly trading volume recently surpassed the $ 10 billion mark, setting a new record for Uniswap.

Meanwhile, Yearn Finance has been declining since hitting a new all-time high on February 12, but surpassed that mark on April 18 when the price hit $ 57,174 on April 18. In terms of locked-in value, Yearn Finance has around $ 275 million, with increased liquidity in v2 vaults since launch.

With regard to the selected cryptoassets, SEBA states that “the value chain, tokenomics and underlying protocol play a central role in this process.”

SEBA clients also have access to their tokens in each of the bank’s investment decisions. These include personalized and actively managed client portfolios. This is in addition to the nine cryptocurrencies that SEBA currently works with, such as Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), litecoin (LTC), Stellar Lumen (XLM), and USDC stablecoin.

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