December 12, 2019 by Xavier
After you have bought a bond based on the Blockchain issued on 10 September, the Spanish bank Santander has proceeded to the early repayment of $ 20 million through the public network Ethereum. The institution announced the news on twitter on December 10 before renting the security offered by the Blockchain.
$ 20 million obligation repaid via Blockchain
The emissions obligation by Blockchain are gaining more and more terrain at the dawn of 2020. Recently, this is the Santander bank (Spain), who sought this procedure in issuing its first bond scanned the 12 December.
In details, the maturity of the bond, sitting on Ethereum was set at one year, however, the bank proceeded to the early repayment of $ 20 million in the month of December.
As explained by John Whelan of Santander :
“We have to make early repayment of our obligation based on the Blockchain that we issued on September 10. This proves unequivocally that a debt can be managed throughout its life cycle on a Blockchain “.
We just performed an early redemption of our blockchain-based bond that we issued on September 10th, 2019. This unequivocally proves that a debt security can be managed through sti full lifecycle on a blockchain (public in this case).
Here’re the blockchain transactions:
— John W. 🇮🇪🇺🇸🇪🇸🇪🇺 (@_JohnWhelan) December 10, 2019
HBSC also explores the track Blockchain
Convinced of the scalability and the security of the Blockchain, Santander and other big names from the banking industry, have decided to issue bonds to exploit their potential on the basis of a record distributed.
Recently, it is therefore HBSC has announced the launch of a programme for the issue of digitized titles to fixed income in collaborating with the Singapore Exchange and Temasek. In the same perspective, Morningstar is considering a plan to issue debt securities as tokens on a Blockchain.
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