Santander Bank uses Ethereum blockchain to settle USD 20 million bond

Santander Bank of Spain settled a USD 20 million bond through Ethereum blockchain for which they raised USD 99.000 in quarterly interest.

According to the director of digital investments at Santander, this pilot operation showed that it is possible to manage a debt title throughout its life cycle through a public blockchain such as Ethereum.

In this pilot operation, Santander acted as issuer and investor. Santander Corporate and Investment Banking (CIB) issued the bond using an Ethereum token, which was then purchased by another group company through a series of ERC-20 tokens.

But this pilot was not the first, previously, the debt bond called “bond-i” of the World Bank, under the management of the blockchain of the Commonwealth Bank of Australia had already raised USD 108 million.

Similarly, the Bank of China (BoC) also managed to complete the issuance of 20 billion yuan or USD 2,8 billion bonds through a blockchain-based system, whose functions include the creation and purchase of bonds, accounting, management network, subscription, placement, among others.

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Marilú Lazo
Bachelor in Law from the Pontifical Catholic University of Peru (PUCP). He has experience in corporate advice, as well as personal data protection and new technologies.


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