Santander Launches First Ever End-to-End Bond on Ethereum Blockchain

Spanish banking giant Santander (NYSE:SAN) has announced today that it has become the first bank to use blockchain to manage a bond issue.

The bank reportedly issued $20 million USD worth of bonds on the Ethereum blockchain, where it will remain until the end of its one-year maturity. As part of the transaction, Santander used an ERC-20 token to represent the value of the bond, which it issued on Ethereum’s blockchain network. This ERC-20 token was then bought by one of Santander’s companies, Santander Corporate and Investment Banking (CIB), for the token’s market price and the …