BBVA is First Global Bank to Issue Corporate Loans on the Blockchain

BBVA is the first global bank to use blockchain technology to issue a corporate loan; the bank told the FT it carried out the entire process for a $90mn loan, including negotiating the terms through to signatures; the bank completed the loan in hours when it would normally take a few days; not only is this a big step for banking but they also said it made advancements in how public and private blockchain interact; BBVA used a private blockchain for negotiation and completion, then registered the contract on Ethereum’s public blockchain; the bank said they have several more deals ready. Source

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