BBVA, Spain’s second largest bank, sparked protests in Madrid following the bank’s decision to block thousands of accounts belonging to Chinese nationals. The protestors claim the bank blocked their accounts based on money laundering regulations. Continue reading Pompliano Says Bitcoin Becoming Global Reserve Currency Before Our Eyes As BBVA Blocks Thousands of Bank Accounts
Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has closed a €150 million loan using blockchain technology with Porsche Holding, the largest car distributor in Europe. The news was reported by financial news site Finextra Dec. 14. Continue reading Major Spanish Bank BBVA Closes €150 Mln Loan With Porsche Holding Using Blockchain
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