Santander Testing Nivaura’s Blockchain-Based Floating Rate Bond
Capital markets startup Nivaura has developed a floating rate bond using blockchain tech, and it's already being tested by Santander and others.
"This unequivocally proves that a debt security can be managed through its full lifecycle," said an exec.
MUFG launched a 22-member research consortium of security issuers, broker dealers and tech companies to set standards for security token management.
Santander's new hire, Trish Burgess, formerly helped lead the launches of Apple Card and Apple Pay.
The SEC-regulated firm raised $14 million from notable investors across traditional and blockchain finance.
Santander has issued a $20 million bond on ethereum, and paid fiat cash for it on the public blockchain as well.