Do you have a blockchain? Then we go to you! Santander Bank redeemed $ 20 million bonds on the Ethereum blockchain!

Santander Bank repays $20 million worth of bonds early on the Ethereum blockchain
Spanish multinationalbanking giant Banco Santander redeemed $ 20 million of bonds on the Ethereum blockchain, which were issued in early autumn.

The organization made early repaymentblockchain-based bonds issued in September this year. John Whelan, head of digital investment banking at Santander, tweeted:

“We just made an early repaymentour blockchain-based bonds that we issued on September 10, 2019. This clearly proves that debt securities can be managed with the help of blockchain throughout their entire life cycle. ”

Whelan provided public transaction data fromEthereum blockchain explorer Etherscan to confirm the transaction. Since Santander acted as the issuer and investor in the transaction, Whelan disclosed information about the transactions in the issuer's and investor's wallet.

In September, Santander said that automationof the entire bond issuance process helped the bank reduce the number of intermediaries, making the transaction faster, more efficient and easier. Santander is not the only financial institution experimenting with blockchain-based securities issuance technologies.

In November it became known that HSBC andThe Singapore Exchange is exploring the possibilities of blockchain for the bond market. It was also reported in October that Morningstar Credit Ratings was developing a blockchain-based service for rating debt securities that would be issued in the form of tokens.

In August, the World Bank sold a second batchbonds on the blockchain in the amount of $33.8 million; in total, the organization issued bonds on the blockchain in the amount of $108 million. In the spring, Societe Generale bank also issued bonds for $112 million on the Ethereum blockchain.

source: https://bits.media/santander-dosrochno-pogasil-obligatsii-na-20-millionov-na-blokcheyne-efiriuma/