ADVERTISEMENT

Santander uses Ethereum to settle a $20 million bond

ADVERTISEMENT

Must Read

Bitcoin rises to $8,000 as Britain reaches a Brexit deal – Bitcoin News

Today marks a historic day as the European Union, and Britain reached a Brexit deal. Many experts and analysts...

BTC.com and Antpool co-discover the same block – Bitcoin Mining News

Bitcoin network initiated a rare event where two highly competitive pools co-discovered the same block. In the end, one...

Infamous Darknet website that sold credit cards gets hacked – Dark Web News

BrainsClub, a well known Darknet website, got a taste of its medicine as a hacker, stole the information from...
Malaki Braydon
Malaki Braydon
Braydon has been into the crypto and blockchain space from the past 7 years. Based in New York City, Braydon has completed his masters from Kingsborough Community College.

Spanish banking giant, Santander has become the first institution that issued and settled a $20 million debt using the ERC-20 token representing cash in custody account. This transaction helps in forming a landmark for banking institutions and public blockchains. Santander settled both the sides of a bond issue with the help of this technology.

This successful transaction has opened ways for broader adoption of the blockchain by more institutions for the issuing and settling of the debts. Instead of using the same old common practice of settling the cash with the analog-only ledger, blockchain will be an easier way to do the transactions.

No third-party investors were involved in the settlement, and along with this, they also used Santander Security Services to keep the private keys that were involved in the tokenized security and cash settlement.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Bitcoin rises to $8,000 as Britain reaches a Brexit deal – Bitcoin News

Today marks a historic day as the European Union, and Britain reached a Brexit deal. Many experts and analysts...

More Articles Like This