In the world issued the first syndicated loan in the blockchain

В мире выдан первый синдицированный кредит на блокчейне

Spanish Bank BBVA MUFG along with the Japanese and the French BNP Paribas has given a loan of $150 million, using private blockchain.

Spanish BBVA and two partner Bank issued the world’s first syndicated loan in the blockchain. On Wednesday, November 7, writes the League with reference to Financial Times.

It is noted that in late April, BBVA has issued the world’s first credit on the blockchain. The whole process – from negotiating the terms before signing the contract – took place on the basis of the distributed registry with full access for the borrower and the Bank.

The Bank used private blockchain for negotiation and completion of the lending process. Then the agreement recorded in the public Blockchain Ethereum platform.

This time BBVA MUFG along with the Japanese and the French BNP Paribas has given a loan of $150 million by the Spanish company Red Electrica, using private blockchain.

The media notes that the total market for syndicated loans is $4.6 trillion per year.

As reported, the Chinese company Huawei Technologies is developing a smartphone that will support the blockchain app.

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