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.
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