European Financial Regulators Will Use Blockchain in order to Track Warrant Issuance

 In Market News, Technical View
European Financial Regulators Will Use Blockchain in order to Track Warrant Issuance

European Financial Regulators Will Use Blockchain in order to Track Warrant Issuance

At least 8 European financial organizations recently addressed their collaboration on a blockchain system to record financial warrants as reported by the media outlet “El Economista” in Spain.

The National Securities Market Commission together with BBVA, BNP Paribas, Santander Bank, Commerzbank, CaixaBank and Societe Generale; recently announced the successful pilot which they termed “Fast Track Listing”. This blockchain registers warrants issued in less than 48 hours. Previously, this process took more than 7 days.

These warrants were categorized as financial derivatives which would grant participation rights to sell assets at a predefined rate prior to their expiration.

Today, it’s no secret that both banks and financial institutions are researching and exploring possible uses for blockchain technology. Several financial service companies and institutions are already accepting the technology; as recent as April, Santander Bank had launched their own retail mobile app for their customers that is powered by Ripple’s own blockchain system.

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