Banks partner on first syndicated loan using blockchain
Spanish bank BBVA has partnered with co-lenders MUFG of Japan and BNP Paribas of France to arrange a syndicated loan using the Hyperledger and Ethereum blockchains. €150m was lent to Spanish national grid operator Red Eléctrica, as part of a time-saving and immutable transaction that also gave legal advisers Linklaters and Herbert Smith Freehills access to the exchange.…