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Porsche arranges acquisition finance loan on BBVA blockchain

Added on the 17th Dec 2018 at 9:59 am
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Thanks to Derek Southall, founder of Hyperscale Group, for flagging this example of blockchain being put into meaningful practice.

Porsche arranges acquisition finance loan on BBVA blockchain

BBVA has negotiated and closed a EUR150 million term loan for Porsche Holdings using blockchain technology. The transaction is the latest in a number of notable DLT-based deals conducted by the Spanish bank with corporate customers, including the arrangement of a EUR150 million syndicated loan for Red Eléctrica Corporación, renewal of a EUR325 million credit line with Repsol and the signing of a €100-million-euro long-term bilateral corporate loan with ACS.

2 Comments

  1. Anonymous says:

    Yes, SO meaningful.

    • Trust-me-I'm-a-lawyer says:

      Well it is actually quite meanigful because this was was the first syndicated loan completed using blockchain. Blockchain makes the process of arranging large loans much more transparent, efficient and cheaper for all involved. This in turn improves the economy because business can grow faster. So yes, it is meaningful. Educate yourself.

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