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BBVA, the EIB Group uses Blockchain for the € 1B synthetic securitization of Cryptovest

BBVA, the EIB Group uses Blockchain for € 1B of synthetic securitization

The Spanish banking giant BBVA (MC 🙂 and the European Investment Bank group (EIB Group) leveraged blockchain to sign a synthetic 1-billion-euro securitization. Synthetic securitization is a financial process through which banks mitigate specific risks. In simple terms, the procedure represents an insurance policy necessary for banks to cover the risks related to their loan portfolio of small and medium-sized enterprises (SMEs).

The agreement is expected to be the first synthetic blockchain-based securitization in the European Union (EU) and the third securitization of blockchain corporate loans conducted by the EIB Group in collaboration with BBVA. In addition, the two entities will offer 360 million euros to finance investment projects of SMEs and mid-cap companies.

The EIB Group and BBVA signed a synthetic securitization agreement to finance Spanish SMEs with around 600 million euros …

This article appeared for the first time on Cryptovest

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