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Santander is bond on the Ethereum Blockchain

the Blockchain, the technology under Bitcoin & co., has, especially in the Finance area of disruptive Potential. Finally, it is in the money business, the most

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Santander is bond on the Ethereum Blockchain

the Blockchain, the technology under Bitcoin & co., has, especially in the Finance area of disruptive Potential. Finally, it is in the money business, the most well-known Use Case of the Blockchain. Nevertheless, the Banco Santander was able to break down the boundary between traditional banking business and in the crypto world recently, just a little more. Because you forgave, now seemingly for the first time, a Blockchain-bond.

By Anton Livshits
16. September 2019BTC$10.155,32 -1.19%part Facebook Twitter LinkedIn xing mail

Spain's biggest Bank Santander announced on 12. September is known to have the first end-to-end-bond on a Blockchain issued. According to the press release published by Banco Santander in the US $ 20 million bond Blockchain directly on the Ethereum. You should remain there for their entire one-year term.

with such a successful automation of the Bank speaks of a "first step to a potential secondary market for Mainstream Security Token." José García Cantera, Chief Financial Officer at Banco Santander, recognize here even a stage win on the way to the "digital Transformation of the financial sector". He provides his money to the Institute to one Hundred percent behind such a development:

We want to use all the technologies that can speed up this process so our customers will thrive and faster and more efficient, and Blockchain is one of these technologies.

Santander business bond "faster, more efficient and easier" make

, The Spanish Bank issued the bond itself, which was then acquired by another company of the Santander Bank group. It is equipped with a quarterly coupon of 1.98 percent. Other subsidiaries of the Bank group took care of the sale and safekeeping of the key.

the authors of The press release talking about the Ethereum Blockchain, it had made possible, the entire bond digital map. Santander could therefore also bring in the money, with which the bond was purchased, and the interest coupon in Token Form. As a result, succeeded in Santander to reduce the number of parties involved in the process instances drastically. Such automation is designed to make the bond business "faster, easier and more efficient".

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In the case of the digital implementation of the bond Santander has received support from the London-based FinTech Start-up Nivaura. The Investment Department of Santander, had already invested in the last February in Nivaura.

and the world Bank were already in Blockchain-bond in order

However, the world Bank made already in the year 2018 with a Blockchain-bond talking. The so-called Kangaroo Bond can also be completely on the Ethereum Blockchain to handle. He is so named because it is a bond for the Australian Dollar. The world Bank was at that time already, first of all, a Blockchain to have a bond created.

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