BBVA started a project related to the ethereum

The Spanish financial institution joined a union loan of 150 million dollars linked to the blockchain of the cryptocurrency

The Spanish financial institution BBVA started a project that includes a syndicated loan of 150 million US dollars within the blockchain world of the ethereum.

This was indicated by the Financial Times portal, which detailed that the bank granted this loan to the Spanish operator Red Eléctrica.

In the world of finances, syndicated loan is an instrument where a group of banks provides services to a single borrower. In this case BBVA co-lenders were Mitsubishi UFJ Financial Group of Japan and BNP Paribas of France.

The BBVA informed that the future objective is to carry out more projects of this type, related to the blockchain and which allow to reach more experience in the use of technology.

In April this year, the Spanish institution also completed a corporate loan of 91 million dollars based on a private digital accounting book.

K. Tovar

Source: Coindesk

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