Switch to seedless. Get 30% off with SWITCH30 till Oct 21Iberdrola, BBVA, and Santander use blockchain for €150M loan
6.6 Banking Iberdrola, BBVA, and Santander completed a €150M syndicated loan fully managed on blockchain, marking a first in the financial sector.
Iberdrola, BBVA, and Santander have completed a €150 million corporate syndicated financing, managed entirely using blockchain technology. This is the first syndicated loan whose full lifecycle—from formalization and disbursement to interest management, waivers, amortizations, assignments, and maturity—has been administered on blockchain. The transaction was executed via a platform developed by ioBuilders in collaboration with the banks. This platform allows all participants to operate on a single, shared, and synchronized record, enhancing traceability, reducing error risks, and streamlining coordination among entities. By replacing traditional reconciliation processes with a unified source of information, this initiative supports Iberdrola’s digitalization strategy, which emphasizes innovation and new technologies to boost efficiency and optimize financial processes.
