SE(BA) Bank of Switzerland has introduced so as to add two extra cryptocurrencies, together with USDC stablecoin and Bitcoin Cash. After the addition of two new cryptocurrencies, the bank is now providing providers for six cryptocurrencies, together with Bitcoin, Ethereum, Stellar, Litecoin, USDC, and Bitcoin Cash.
On each newly-added digital belongings, the customers of the SE(BA) Bank can take pleasure in a number of services, together with custody, buying and selling, curiosity over USDC, and have of fiat lending for BCH collateral. The bank has been increasing its crypto ecosystem by including extra cryptocurrencies since its adoption of the market in 2018. In accordance with the official announcement:
“SE(BA) Bank, a FINMA licenced Swiss Bank offering a seamless, safe and easy-to-use bridge between digital and conventional belongings, as we speak broadcasts to simply accept two new digital currencies to its digital ecosystem: Bitcoin Cash and the trusted stablecoin USDC.”
Help for Seven Cryptocurrencies
SE(BA) is already providing services to customers on digital belongings, together with Bitcoin, Litecoin, Ethereum, and Stellar. The registered customers of the SE(BA) Bank can entry and use these digital belongings through SE(BA) pockets, e-banking, FIX API, and SE(BA) commerce.
SE(BA) is among the first banks which are making an attempt to create an ideal bridge between cryptocurrency or digital asset and fiat foreign money or conventional asset. To some extent, it has grow to be profitable because it additionally providing providers for seven fiat currencies, together with USD, EUR, CHF, SGD, HKD, and PLN, moreover digital belongings. To supply asset-based securities, the corporate engaged in a partnership with the blockchain platform Cordia. With the partnership, SE(BA) has grow to be one of many first platforms to supply blockchain-powered tokens that account for tradable belongings, comparable to bonds.
Bridge Between Digital and Conventional Monetary Worlds
To merge each digital and conventional finance sectors, the bank has additionally partnered with the European subsidiary of TokenSoft for asset tokenization. In accordance with the plan, the service can be activated by the tip of 2020 for patrons based mostly in Switzerland. At present, the bank is just not providing providers in Asia and the Center East, however these areas will get publicity to SE(BA)’s providers quickly.