Today SIA unveiled a partnership with Italian blockchain fintech Wizkey. The startup uses the Ethereum network to tokenize financial assets. The joint solution plans to enable financial institutions – banks and funds – to trade loans and other debts, including securitized non-performing loans (NPLs).
This will all happen on SIA‘s secure infrastructure, linked to the public Ethereum network to guarantee full transparency. SIA’s infrastructure is used by banks for SEPA payments and card processing services.
“The main objective of this project launched together with Wizkey is to support banks in managing credits, especially non-performing ones, in a standardized and secure manner in line with the indications of European regulators”, said Daniele Savarè, Director of Innovation & Business Solutions at SIA.
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