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Banco Santander Plans to Explore Blockchain’s Potential in Securities Trade

Spain-based Banco Santander has introduced the advent of a blockchain analysis group to glance into the era’s possible to exchange securities buying and selling, in accordance to a July 11 press release.

The “Digital Investment Banking” group, headed via present chief of Santander’s blockchain lab John Whelan, will “explor[e] the use of tokenized securities in debt capital markets, derivatives and other products.”

The international bank has adopted its personal direction to blockchain integration since dropping out of disbursed ledger tech (DLT) consortiums R3’s beleaguered DLT mission in 2016.

José M. Linares, Santander’s senior government vice-president and international head of Santander Corporate & Investment Banking, famous in the click unencumber that the “wave of digitalization (sic) that is occurring in the financial industry is accelerating:”

“Our clients expect this to result in better solutions, lower costs and new categories of products and services that enable them to access capital markets more efficiently than ever before.”

While more than a few banking sector resources voice concerns about the potential for blockchain in the business this month, Santander stays dedicated to leveraging the era.

In April, the financial institution piloted its blockchain-based remittance carrier in partnership with Ripple, and in mid-May, Santander successfully completed its first blockchain investor balloting pilot.

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