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-Spain's BBVA offers first syndicated loan using blockchain tech

Nov 27, 2018 - Banking and Credit News

Global Banking News - 27 November 2018

BBVA (NYSE: BBV) (BBVA.MC),

BNP Paribas

(BNPP.PA) (LSE: BNP) (OTC: BNPQY), and Japan's Mitsubishi UFJ Financial Group Inc (MUFG) (NYSE: MTU) (TYO: 8306) (8306.MU), have offered a EUR150m syndicated loan to Red Electrica Corporation, using blockchain technology, The Paypers has reported online.

The loan relied on BBVA's proprietary blockchain network. Along with two legal companies, the three banks used this distributed ledger tec...