blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
Bet Now
blockchainreporter
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise
No Result
View All Result
blockchainreporter
Bet Now
No Result
View All Result
Bitcoin
BTC
1d:
7d:
Ethereum
ETH
1d:
7d:
Polkadot
DOT
1d:
7d:
Solana
SOL
1d:
7d:
Ripple
XRP
1d:
7d:
Shiba INU
SHIB
1d:
7d:

SEBA Bank Introduces Custody Services for Blue Chip NFTs

Eric Maina by Eric Maina
October 26, 2022 - 11:21 am
in nft news, adoption news
0
SEBA
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Switzerland-based SEBA Bank, a leading global bank for the crypto sector, has launched a custody service for blue chip NFTs. The bank, which focuses on offering regulated banking services in the crypto world, will offer institutional-grade custody solutions needed to secure clients’ NFTs.

First NFT Service

While SEBA Bank has been in the crypto sector for a while, this is its first NFT-based service. It is a testament to the growing value of the NFT industry. Its NFT custody service will offer institutional-grade protection. It is certified and independently audited.

The custody service will roll out today, Wednesday, October 26, 2022. It is in response to client demands for secure storage service for valuable NFTs. The bank currently supports renowned collections such as Cryptopunks, Clone X NFTS, Bored Ape Yacht Club, and others. With time, the bank will approve its custody service for many other NFT collections. Its goal with this service is to appeal to investors who view NFTs as an asset class and crypto natives.

How It Will Overcome Hesitation

Self-custody is popular in the crypto world. There is a popular mantra that goes “not your keys, not your crypto.” Many who believe in this mantra might hesitate to hand over their assets to SEBA Bank for storage.

However, Urs Bernegger, co-head of markets and investment solutions at the bank, believes there is a growing clique that feels comfortable using institutional custody services to store their NFTs. According to Bernegger, these people do not want to hold their NFTs since they do not know how to handle or store private keys.

According to a study by Chainalysis, close to 3.7 million BTC has been lost in inaccessible wallets. People have lost millions after losing their private keys. In some cases, families have been disinherited millions of dollars after the sudden death of the holder of private keys.

Besides this group, institutional custody solutions can benefit crypto natives, according to Bernegger. He noted that a growing group of companies was offering financial services, with NFTs acting as collateral. For instance, some lenders now accept NFTs as collateral.

In the future, SEBA Bank could offer similar services. The bank, based in the crypto-friendly Swiss town of Zug, offers various crypto-related solutions that could extend to NFT holders. Since its founding four years ago, the bank has continued to grow despite the turmoil in the crypto markets.

One of the proposals the bank is looking at is launching a service that lets NFT collectors find other collectors directly instead of going through the crypto markets. For now, they are setting the foundation with secure NFT custody solutions.

Growing NFT Sector

SEBA Bank’s new service is based on real-world demand. In Q3 2022, data shows that 2.2 million unique investors are in the NFT markets. It represents a 36% increase from the same time in 2021. NFTs have disrupted various sectors, including the art world, gaming, and the investment world. Strong communities have mushroomed around the technology, which has enormous potential. There is apparent demand for a trusted custody solution, and SEBA Bank will capitalize on this demand.

Tags: AdoptionCryptoCryptocurrencyNFT
ShareTweet
Eric Maina

Eric Maina

Eric Maina has been working as a freelance content and copywriter for over three years. He is passionate about blockchain, crypto, and fintech. His articles on the crypto industry have been widely read. He takes his role of informing readers about events in the crypto industry very seriously. Eric aims to provide accurate and timely information in every article he creates on the crypto industry. He conducts in-depth research on the topics on which he writes to provide his readers with as much insight a possible into the nascent crypto industry.

Recommended For You

UK Central Bank: Private Stablecoins and the Digital Pound May Coexist

by Kester Odero
February 8, 2023 - 7:26 am
0
cdbc digital pound Bank of England (BoE)

The UK Central Bank, has released a digital assets consultation documentwhich states that they want a retail focused e-GBP alongside stablecoins.

Read more

Damus Pulled from Appstore, METAVERTU’s DApp Store Invites it in

by Max Clark
February 7, 2023 - 2:00 pm
0
metavertu

Last year, the luxury phone brand VERTU launched METAVERTU, which claims itself "the world's first Web3 phone" and has a decentralized app store called Metaspace.

Read more

Moonpay Allocates $555k to Advance DAO Ecosystem and NFT Programs

by Umair Younas
February 5, 2023 - 7:43 am
0
MoonPay Celeb

The respective capital allocation by Moonpay is targeted at backing projects engaged in expanding innovation and development in DAO and NFTs.

Read more

CryptoZoo NFT Project and Logan Paul are Now Facing a Class-Action on Rug Pull Claims

by Kester Odero
February 3, 2023 - 10:32 am
0
cryptozoo logan paul

Recent developments have seen Logan Paul and CryptoZoo face a new lawsuit. Paul is being accused of rug pulling together with a list of others.

Read more

OpenSea to Offer a Mechanism for a 3-Hour Hold Time to Mitigate Risk Related to Theft

by Umair Younas
February 3, 2023 - 7:35 am
0
OpenSea

For this OpenSea mechanism, sellers require to not adopt offers related to specific items for nearly 3 hours following a few sales and transactions.

Read more
Next Post
Polygon Axelar

Polygon and Axelar Collaborate to Spread out Polygon Supernets’ Interoperability

PARTNERS LIST

PRESS RELEASE

Coinbase-Backed DeSo Unveils MegaSwap, a “Stripe for Crypto” product, with Over $5 Million in Volume

by chainwire
February 7, 2023 - 3:02 pm
0

Los Angeles, United States, 7th February, 2023, ChainwireDeSo is excited to announce the launch of MegaSwap – a revolutionary, cross-chain...

The Future of DAOs Takes Center Stage in Tel Aviv

by chainwire
February 6, 2023 - 8:00 am
0

Tel Aviv, Israel, 6th February, 2023, ChainwireThe DAOVOZ collective is excited to announce the inaugural DAOVOZ Tel Aviv event on...

Game Space Powers Web3 Gaming With the Launch of Player One Tournament, Aligns Partnership with Splinterlands, Gods Unchained and Big Time

by Max Clark
February 3, 2023 - 12:00 pm
0

For Player One Tournament, Game Space will continue to cooperate with more public chains, various gaming guilds, Web3 Infra, Web3...

Metacade presale investment rockets past $5 million as GameFi investors hurry to buy remaining MCADE tokens

by chainwire
February 2, 2023 - 3:38 pm
0

London, United Kingdom, 2nd February, 2023, ChainwireThe Metacade presale is selling out fast with stage 3 coming to a close...

BlockchainReporter is a trusted name in the cryptocurrency and blockchain technology news space, keeping its readers abreast of the latest and most significant trends in the industry.

Here at BlockchainReporter, our team of global writers is dedicated to providing price analysis on leading cryptocurrencies and covering the latest developments pertaining to bitcoin news, altcoins news, blockchain news, NFT news and cryptocurrency adoption news from around the world.

News

  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • Adoption
  • NFT
  • DeFi
  • Metaverse

Info

  • Education
  • Glossary
  • Market
  • Press Release

Company

  • About Us
  • Terms & Conditions
  • Advertise
  • Sitemap
  • Contact

@2022 – Blockchainreporter.net. All Right Reserved.

No Result
View All Result
  • News
    • Altcoins
    • Bitcoin
    • Blockchain
    • Ethereum
    • Adoption
    • NFT
    • DeFi
    • Metaverse
  • Education
  • Glossary
  • Advertise

@2023 - Blockchainreporter.net. All Right Reserved.