Santander bank anticipates a refund obligation of $ 20 million via Ethereum

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 “.

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.
What do you think of this early repayment of $ 20 million obligation by Blockchain ? Give your opinion in the comments section.
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About the author

Jeremiah Faber

Jeremiah Faber

Jeremiah is an explorer by heart – both in the physical and the digital realm. A traveler, Jeremiah continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Jeremiah and through his business acumen has gained financial profits as well as fame in his business niche.

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