SEBA bank in Switzerland has made another step towards making cryptocurrencies mainstream and more accessible to the public by adding USDC and Bitcoin Cash (BCH) to its ecosystem of digital currencies.
In total, the bank supports 7 local fiat currencies and 6 digital currencies since it joined the cryptocurrency market in 2018. The seven local fiat currencies supported by the bank are USD, GBP, CHF, EUR, HKD, SGD and PLN. The six supported digital currencies are BTC, ETH, LTC, XLM, BCH and USDC stablecoin.
The announcement to accept the two digital currencies was made on the 19th November, 2020. The assets are to be used across all services on the Bank’s platform by customers for trading, custodian services for the digital assets, lending of Fiat as well as interest earnings on the USDC stablecoin according to the release by the bank. Customers can make use of the assets via e-banking, SEBA trade, SEBA wallet as well as FIX API.
SEBA at the frontline of fostering crypto adoption
Switzerland with no doubt is one of the countries that is blockchain and cryptocurrency friendly and SEBA happens to be a Switzerland bank. It is a bank with an aim of making crypto trading simplified and very safe for its customers. Both small scale traders and large-scale traders can be customers with SEBA and have transactions settled in their respective bank fiat or crypto accounts. The bank supports accounts for individuals as well as corporate organisations.
The bank is also known to be making moves to align the local banking system with cryptos payment system by offering services for both. SEBA made a partnership with Cordia; an open source blockchain platform in mid-2020 to offer assets security services. The bank is said to be making other partnerships and programs to bring the best of crypto/fiat services to its customers.