In Spain, the launch blockchain-lending

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One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA) received the status of a pioneer in the use of blockchain technology for its own credit system. The first operation was a loan of 75 million euros, issued to one of the bank’s corporate clients. According to the management of the bank …

One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA) received the status of a pioneer in the use of blockchain technology for its own credit system. The first operation was a loan of 75 million euros, issued to one of the bank’s corporate clients. According to the management of the bank, their example is a real breakthrough in the traditional financial sphere. To conduct a full procedure for issuing loans, information from a private broker will be transferred to the public blockchain Ethereum.

In addition, BBVA is not limited to this activity. Soon the bank plans to launch a joint project with the Spanish telecommunications company Indra in the field of blockchain applications.

And also working on a blockchain application for international trade, the exchange of traditional currency and international lending.

The ubiquitous integration of blockchain solutions by traditional financial companies once again confirms the popularity of the crypto industry.

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