The popular Spanish bank has just announced it has redeemed a $20M bond through the blockchain of the second largest cryptocurrency by market capitalization.
The bank has reportedly made an early prepayment of a bond based on blockchain which was issued on September 10, demonstrating this way that ethereum’s blockchain can be applied to securities issuance across the full lifecycle of a security.
When the bank announced the news three months ago, it highlighted it had become the first institution to use a public blockchain to manage all aspects of the bond issuance process.
John Whelan, head of Digital Investment Banking at Santander, said on Twitter yesterday:
"We just performed an early redemption of our blockchain-based bond that we issued on September 10, 2019. This unequivocally proves that a debt security can be managed through its full lifecycle on a blockchain (public in this case)."
Santander issued its first end-to-end blockchain bond on September 12.