BBVA Issues $91 Million Loan Using Two Blockchains
Spanish banking giant BBVA has completed a pilot that issued a $91 million corporate loan using two different blockchain technologies.
BBVA is poised to enter the cryptocurrency trading and custody space, according to two people familiar with the plans.
The European Commission, the EU's executive body, is launching a blockchain app association next year and already has major banks on board.
BBVA said the service will be available only to clients in Switzerland because of the country's clear regulations and the widespread adoption of digital assets.
Banking giant BBVA has completed a pilot that put a $150 million syndicated loan for Spain's electrical grid operator on the blockchain.
The bank wants to use ethereum as a notary, but regulators discourage holding even the tiny bit of ether needed to put data on the public blockchain.
London blockchain startup Everledger is the joint winner of BBVA’s European Open Talent competition. The startup, which uses blockchain technology to tackle diamond fraud and theft, will be awarded a €30,000 prize ($33,939) as well as an invitation to develop a project with the multinational bank. Rounding off the competition series, with previous finals taking place […]