The Spanish National Securities Market Commission and BME, the Spanish stock market operator, announced the completion of a blockchain test. The year-long Proof of Concept (PoC) called ‘Fast Track Listing’ involved the registration of warrants using blockchain.
Other participants in the PoC were Spanish banks Santander, BBVA, and CaixaBank, as well as international banks Commerzbank, Société Générale, and BNP Paribas.
A regular warrant issue usually takes a week to register, and the test showed it could be done within 48 hours. Additionally, the group found that blockchain technology helps to improve the traceability and security of the process.
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