BBVA Leads Blockchain-Based Syndicated Loan of $150 Million with BNP Paribas and MUFG

More from: | CoinTelegraph |

Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA), has carried out a blockchain-based syndicated loan of $150 million, U.K.-based global financial news agency Finextra reports Wednesday, Nov. 7.

The syndicated bank transaction has been conducted on a private blockchain network through a group of three funding banks including French banking group BNP Paribas, Japan’s bank holding Mitsubishi UFJ Financial Group (MUFG), and BBVA.

Acting as the sole underwriter of the transaction, BBVA also secured the participation of a partly state-owned Spanish company Red Eléctrica de España, as well as two legal advisors, U.K.-based multinational law firms Linklaters and Herbert


Read full article »

About | CoinTelegraph |

Cointelegraph is a completely independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen web. We offer the latest news, prices, breakthroughs and analysis with emphasis on expert opinion and commentary from the digital currency community.

»Twitter: @cointelegraph »Facebook: @cointelegraph »YouTube: Cointelegraph