Two European and one Japanese bank one have completed the first blockchain-based syndicated loan.
Together with France’s BNP Paribas and Japan’s Mitsubishi UFJ Financial Group, Spain’s banking behemoth BBVA utilized a private blockchain network in arranging a syndicated loan amounting to US$150 million for grid operator Red Electrica. Initially reported by the Financial Times, legal advisers were also granted access to the private blockchain network allowing instant exchange of information among all the parties to the deal. Continue reading BBVA and Co-Lenders Complete $150 Million Syndicated Loan on a Blockchain
At the SBI Financial Results Briefing, SBI Group CEO Yoshitaka Kitao announced that the firm has already begun the discussions to create a project for R3 that uses Ripple (XRP) more extensively. Continue reading Japanese Financial Giant SBI to Use Ripple (XRP) Extensively With R3
Major U.S. companies have been avoiding the crypto market for a long time. And now, according to Mike Novogratz, a prominent investor and former hedge fund manager at Fortress Investment Group, there is a major reason for this. Continue reading Why Major U.S. Financial Companies Avoid the Crypto Market
Blockchain is undeniably the biggest buzzword of 2018. Although, research reveals that just because people have heard of it doesn’t mean they know what it is. The wider public’s definitions in the UK vary from a form of currency to a children’s toy. But with the blockchain race stepping up a gear, Barclays Bank is the next large financial institution to file blockchain patents. Why? Continue reading What Is Barclays Bank Going to Do with Blockchain Tech?
Fred Schebesta, a 26-year old entrepreneur who co-founded comparison website Finder.com, wants to open a crypto bank in Australia. Continue reading Australian Tech Entrepreneur Plans Crypto Bank Launch