Spanish Bank BBVA Uses Blockchain Technlogy To Perform Corporate Loan Deal

Announcements, Blockchain | April 26, 2018 By:

Spanish banking group Banco Bilbao Vizcaya Argentaria (BBVA) has successfully completed a global corporate loan transaction using blockchain technology.

BBVA reported that it has closed a €75 million ($91M USD) corporate loan deal with technology partner Indra. The pilot transaction was conducted on a mutually distributed ledger that informed both the bank and the borrower of the loan’s progress.