Switzerland’s SEBA Bank Announces Support for Bitcoin Cash and USD Coin

Switzerland-based SEBA Bank has expanded its cryptocurrencies ecosystem by adding two more digital currencies. Reportedly, the Swiss-regulated bank has announced to add support for the seventh-largest cryptocurrency by market cap Bitcoin Cash (BCH) and the second-largest stablecoin USD Coin (USDC).

SEBA has been rolling out trading as well as custodial support for digital currencies since the time it entered the market in the year 2018. With the addition of Bitcoin Cash (BCH) and USD Coin (USDC), there are now six digital tokens in total supported by the bank in its cryptocurrency ecosystem.

These supported digital currencies include the largest cryptocurrency in the world by market cap Bitcoin (BTC), the second-ranked digital asset Ethereum (ETH), Litecoin (LTC), and XLM, the native cryptocurrency of Stellar. Alongside digital assets, the Swiss bank also supports a total of seven fiat currencies as well. Supported fiat currencies include Swiss Franc (CHF), United States Dollar (USD), British Pound (GBP), Euro (EUR), Hong Kong Dollar (HKD), Singaporean Dollar (SGD), and PLN.

As per the bank’s official blog post published on the 19th of November, users now will be able to access these two newly-introduced digital assets across different services such as digital custody and trading. Moreover, users will also be allowed to earn interest on the USDC stablecoin. The service of “FIAT lending against BCH collateral” is also available for users. These assets can be utilized by clients via SEBA wallet, FIX API, SEBA trade, and e-banking.

SEBA Bank allows users to execute their cryptocurrency and fiat pairs instantly utilizing the cutting-edge technology of the bank. The Swiss Financial Market Supervisory Authority (FINMA)-regulated bank plans to launch support for more digital currencies in the future to facilitate its clients further.

The Swiss bank has been making efforts throughout this year in order to bridge the gap between the worlds of cryptocurrencies and traditional finance. At the beginning of this year, the bank announced to offer asset tokenization and formed a partnership agreement with the European distributor TokenSoft. It also had teamed up with Cordia an open-source blockchain platform back in the month of July for offering asset securitization.