Capital markets startup Nivaura has developed a floating rate bond using blockchain tech, and it's already being tested by Santander and others.
Nivaura, a startup tokenizing traditional financial instruments, has raised $20 million from investors led by the London Stock Exchange Group.
A structured note is being issued on the ethereum blockchain, with an identical one settled on a traditional clearing house to test the cost savings.
Blockchain startup Nivaura will today initiate its first bond denominated in ether. And, notably, the issuance will be conducted on a blockchain.
Blockchain startup Nivaura has been granted "restricted" permission from a UK regulator to issue and administer financial instruments.