NEWS
NEWS
NEWS
BNP Paribas signs partnership to issue mini-bonds on the blockchain
French Bank BNP Paribas has signed a partnership agreement with crowdfunding providers Lendosphere, Enerfip and Lumo to enable private companies to issue mini-bonds through a private blockchain.
Through a new digital lab, the bank is working on a distributed ledger based on the blockchain powering bitcoin that will be able to maintain a record of all mini-bonds issued through the platform, as well as all of the changes in their ownership.
BNP Paribas claims that the use of the blockchain will ensure that transactions across the network are performed more securely, as well as faster and more efficiently. The bank aims to deliver the new platform by the end of 2016 with a launch to follow once a pending French law on mini-bonds receives final approval.
“Blockchain technology is particularly suited to the fundraising needs of private companies as transactions volumes are typically lower than for listed companies,” BNP Paribas Securities Services Innovation & Digital Lab Manager Marc Younes said in a statement. “This technology could also serve to standardise processes around the trade lifecycle of mini-bonds.”
Expansion
The announcement of the partnership appears to be part of BNP Paribas’ ongoing expansion into the blockchain space. That included the opening of a dedicated blockchain research facility and its first blockchain Bizhackathon for the Americas platform in New York on Sept. 7 and 8. According to AllCoinNews, that event saw participants explore how the technology can advance the consumer-client experience and improve the efficiency of the services offered in different areas of BNP Paribas’ CIB platform.
BNP Paribas has become prominent in blockchain industry groups and is a member of the European CDC initiative, the R3(CV) Consortium and the board of the ever-growing Digital Asset Holdings.
Most of these initiatives remain in their earlier stages. However, what BMP Paribas is offering here is planned for real-world testing by the end of the year, making it yet another milestone along the path of financial market blockchain revolution.
Image credit: Wikimedia Commons/ Public Domain CC0
A message from John Furrier, co-founder of SiliconANGLE:
Support our mission to keep content open and free by engaging with theCUBE community. Join theCUBE’s Alumni Trust Network, where technology leaders connect, share intelligence and create opportunities.
- 15M+ viewers of theCUBE videos, powering conversations across AI, cloud, cybersecurity and more
- 11.4k+ theCUBE alumni — Connect with more than 11,400 tech and business leaders shaping the future through a unique trusted-based network.
About SiliconANGLE Media
SiliconANGLE Media is a recognized leader in digital media innovation, uniting breakthrough technology, strategic insights and real-time audience engagement. As the parent company of SiliconANGLE, theCUBE Network, theCUBE Research, CUBE365, theCUBE AI and theCUBE SuperStudios — with flagship locations in Silicon Valley and the New York Stock Exchange — SiliconANGLE Media operates at the intersection of media, technology and AI.
Founded by tech visionaries John Furrier and Dave Vellante, SiliconANGLE Media has built a dynamic ecosystem of industry-leading digital media brands that reach 15+ million elite tech professionals. Our new proprietary theCUBE AI Video Cloud is breaking ground in audience interaction, leveraging theCUBEai.com neural network to help technology companies make data-driven decisions and stay at the forefront of industry conversations.
