Main page News, Banking, Blockchain

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.

Access more than 50 of the world's financial markets directly from your EXANTE account– including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.