BNP-Backed Blockchain Crowdfunding Effort Completes Initial Stage
A subsidiary of French bank BNP Paribas has announced that its blockchain securities platform has reached a new milestone.
Banking giant BBVA has completed a pilot that put a $150 million syndicated loan for Spain's electrical grid operator on the blockchain.
BNP Paribas and EY say they have "successfully" tested a private blockchain for the bank's global internal treasury operations.
Even though the crypto custody law falls under the German banking act, German banks are hesitant to give crypto firms bank accounts.
BNP Paribas has partnered with Indian IT firm Tata Consultancy Services to bring blockchain's reliability to corporate event announcements.
A new syndicated loan marketplace backed by a group of major banks is set to be launched on top of R3's Corda distributed ledger platform.