Daily News: November 13, 2018

BBVA, MUFG, BNP Complete First Successful Syndicated Loan on Blockchain

The Financial Times reports that BBVA and two partners completed the first successful syndicated loan using blockchain technology.

According to the Times, a private blockchain network was used by BBVA to arrange a $150 million syndicated loan for borrower, Red Electrica, a Spanish grid operator.

The Times reported that MUFG and BNP Paribas were co-lenders.