Share this article
BNP Paribas Clients Conduct 'Live' Blockchain Payments
French bank BNP Paribas conducted its first blockchain-based payments for a collectible trading card firm and a packaging company.
Updated Sep 11, 2021, 12:49 p.m. Published Dec 21, 2016, 7:21 p.m.
Make us preferred on Google
A multi-million dollar global collectibles seller and a billion-dollar packaging firm have participated in some of the first "live" transactions using BNP Paribas’ blockchain service, the bank said today.
According to BNP Paribas, payments were processed and cleared for both Italy-based sports collectibles firm Panini Group and packaging firm Amcor, which operates out of Australia.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The payments were cleared in “a few minutes", the bank added, using different currencies to facilitate transactions between bank accounts located at branches in Germany, the Netherlands and the UK.
Panini Group treasurer Fabrizio Masinelli said in a statement:
"This proof-of-concept shows how powerful such technology can be and how it can be utilised as an effective and efficient response to the main issues that treasurers face on a daily basis."
The transactions were conducted using a “Cash Without Borders” proof-of-concept launched earlier this year following its incubation during a blockchain hackathon, according to the statement. Details about the size of the transactions were not revealed.
In addition to BNP Paribas’ work with blockchain-based payments the firm has experimented in so-called “mini-bonds” for smaller investors, as well as blockchain crowdfunding tools that were initially slated for release by the end of this year.
According to the Panini Group’s corporate website, the firm generated 751m euros in 2014 and employs 1,000 people around the world. During the same year, Amcor generated $10b in sales and employs 29,000 employees.
Going forward into 2017, a number of industry observers have predicted that blockchain will increasingly be moving from early-stage proofs-of-concept to products that move actual value.
Image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Meta and Microsoft continue going big on AI Spending. Here's how bitcoin miners could benefit
In its fourth quarter earnings report, Meta said capital spending plans for 2026 should be in the range of $115-$135 billion, well ahead of consensus forecasts.
What to know:
- Fourth-quarter earnings results from Microsoft (MSFT) and Meta (META) suggested no slowdown in AI-related spending.
- Microsoft highlighted that AI is now one of its largest businesses and pointed to long-term growth.
- Meta projected sharply higher capital spending in 2026 to fund its Meta Super Intelligence Labs and core business.
Top Stories
