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13/09/19 08:00 UTC-4

Santander Spanish bank issued blockchain bonds for $20 million

The Spanish financial conglomerate, Santander, first issued bonds that will exist only on the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
. The bank claims that this is the first step towards creating a secondary market for digitized securities.

 

Santander and $ 20 million blockchain bonds

According to the press release, the bank issued bonds for $20 million directly on the Ethereum blockchain. And the securities will exist exclusively in the blockchain until their redemption at the end of the year.

"Our customers increasingly demand better thinking and technology from us when we help them in raising capital. Blockchain bonds put Santander at the forefront of innovation in the capital markets and show customers that we are the best partners to support them in their digital journey," said Santander, Head of Global Corporate and Investment Banking.

Interesting in the section: Cryptocurrencies in Spain: what Spanish traders “google” and the development of crypto in the country

  • Technical assistance in the issuance of blockchain bonds was provided by Nivaura startup. Santander Bank's subsidiary venture capital fund invested in it last February.
  • The yield on blockchain bonds is 1.98%
  • In mid-August 2019, the World Bank issued and sold $33.8 million blockchain bonds. Prior to this, the World Bank raised another $81 million using this tool

 

See also: "$127 trillion opportunity: MasterCard develops a blockchain platform for cross-border payments"

#Santander #Bank #Blockchain #Ethereum #Bonds

Editor: Pereyidenko Ihor
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