BBVA and Red Eléctrica sign blockchain syndicated loan

Today the Spanish bank BBVA and the owner of the Spanish electricity grid, Red Electrica announced that they have partnered to deliver a syndicated loan arrangement using blockchain. The arrangement was concluded on BBVA’s proprietary distributed ledger platform.

DLT Breakthrough

The deal is worth €150 million, and BBVA granted the loan alongside Japan’s largest bank, MUFG, and the French international banking group BNP Paribas. The transaction follows multiple pilots in the industry designed to test the potential applications of distributed ledger technology (DLT).

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