Famous Bank Chose This DeFi Altcoin! Here are the details

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A Swiss-based crypto-focused bank is seeking to join the whitelist of Arc, the enterprise platform developed by the team behind DeFi altcoin project Aave. According to the bank’s representatives, this step will represent an opportunity for customers to tap into DeFi returns. One point underlined in the statements is that the bank receives high demand from corporate customers for orientation in this area. Here are the details…

Famous bank is preparing for DeFi altcoin

According to a post shared by AAVE on Tuesday, a representative from the bank said it had requested whitelisting to give its customers broader access to the Aave platform, expressing that it was “open to various regulatory restrictions in the jurisdiction.” The representative also says that participation will be beneficial to the protocol returns:

The launch of Aave Arc with its permission tier represents a huge opportunity for them to access DeFi returns while remaining compliant with their regulatory obligations. At SEBA, we believe this will directly benefit the Aave community with institutional liquidities fueling growth in TVL.

Switzerland-based cryptocurrency bank SEBA later shared the following in a post:

SEBA has received increased institutional demand for access to DeFi liquidity protocols such as Aave in recent months. SEBA has a significant interest in its client base to join Aave Arc, and with its close links with money managers in Switzerland and beyond, SEBA is ideally positioned to bridge institutional liquidities on the Aave Arc protocol.

Arc is an accepted platform, which means participants can go through the process of introducing a customer and join with other users whitelisted in a private pool of credits through Arc.