Share this article
BBVA Puts $150 Million Syndicated Loan on Ethereum Blockchain
Banking giant BBVA has completed a pilot that put a $150 million syndicated loan for Spain's electrical grid operator on the blockchain.
Updated Sep 13, 2021, 8:34 a.m. Published Nov 7, 2018, 9:00 a.m.
Make us preferred on Google
Spanish banking giant BBVA has completed a pilot that put a syndicated loan for $150 million on the blockchain.
According to a report from the Financial Times on Wednesday, the bank arranged the loan for Red Electrica, Spain's national electrical grid operator.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A syndicated loan is one, where a group of banks lends together to a single borrower. In this case, the BBVA's co-lenders were Japan's Mitsubishi UFJ Financial Group and France's BNP Paribas.
The data for the loan was time-stamped at each stage of the process. The loan agreement was finally signed between the three banks and recorded on the ethereum blockchain, preserving its "authenticity," says the FT.
In a traditional syndicated loan process, banks rely on faxes to share complex information, which not only delays the process, but is also expensive. Blockchain is seen as a means to help banks exchange information at near real-time, reducing the loan process from a couple of weeks to a day or two. Cutting out manual processes also slashes operational costs.
The BBVA reportedly plans to conduct more blockchain pilots for syndicated loans in the future. The bank has, in fact, explored blockchain tech in the past, as well.
Back in April, it completed a pilot that issued a $91 million corporate loan, using both a private digital ledger and the public ethereum blockchain.
BBVA image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash.
What to know:
- During recent geopolitical tensions, Bitcoin lost 6.6% of its value, while gold rose 8.6%, demonstrating bitcoin's vulnerability in times of market stress.
- Bitcoin behaves more like an "ATM" during uncertain times, with investors quickly selling it to raise cash, contrary to its reputation as a stable digital asset.
- Gold remains the preferred hedge for short-term risks, while bitcoin is better suited for long-term monetary and geopolitical uncertainties that unfold over years.
Top Stories
