BBVA of Spain Loans $150 Million on Ethereum Blockchain

[kreslik.news]

BBVA, the second largest bank in Spain (market capitalisation approximately 35 billion euros), has piloted a $150 million syndicated loan on the Ethereum blockchain, according to the Financial Times.

A loan from three countries

A syndicated loan is a loan which is too big for one party to lend. By syndicating the amount, the borrower is able to take home a larger amount of money, and the lenders spread the risk of the borrower defaulting amongst themselves.

[url=https://events.financemagnates.com/londonsummit/?utm_source=FM&utm_medium=AUTOLINK&utm_campaign=Article&utm_content=fmls18]Join the Leading Industry Event![/url]

In this case, the loan was shared between BBVA, MUFG of Japan (the world’s fourth largest bank) and BNP ... (read more)