Credit Suisse Eyes 2018 Launch for Blockchain Loans Platform
Array

Credit Suisse Eyes 2018 Launch for Blockchain Loans Platform

-

- Advertisment -Credit Suisse Eyes 2018 Launch for Blockchain Loans Platform

A group of banks led by Credit Suisse is eyeing the launch of a commercial platform for blockchain-based syndicated loans, according to reports.

Speaking to finance magazine EuroMoney, Emmanuel Aidoo, who leads Credit Suisse’s blockchain efforts, said that syndicated loan trial – which began last fall – is moving ahead.

Aidoo told the publication:

“We are working to put a few dozen smaller loan transactions, where we or other participating banks are the agent, onto a distributed ledger platform using smart contracts in production next year.”

The group involved finished the second phase of their testing in March. Conceptually, the test envisions a syndicated loan market – in which multiple lenders pool their capital for individual borrowers – built on blockchain. The group hopes the technology can reduce barriers between counterparts, reducing both time and cost in making the necessary capital available.

Using smart contracts to reduce those turnaround times could increase the market’s appeal to potential lenders and investors, according to Aidoo.

“Many investors, including mutual funds and institutional asset managers, might be attracted to loans that are senior to bonds in the capital structure, but they are put off by how long loan trades take to settle,” he said.

Credit Suisse image via Sonia Alves-Polidori/Shutterstock


The leader in blockchain news, CoinDesk is an independent media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. Have breaking news or a story tip to send to our journalists? Contact us at [email protected].

Source link

Credit Suisse Eyes 2018 Launch for Blockchain Loans Platform
Bitnewsbot.comhttps://bitnewsbot.com
BitNewsBot.com aggregates the latest news around bitcoin, blockchain, cryptocoin, ICO's and FinTech, from all around the internet and publishes them in a single place.

Latest news

Math-Based Approaches To Win Slot Games

If the 17th Century was the era of Blackjack, and 19th Century was the undisputed reign of...

Reasons To Prefer Slot Games Even When You Are Losing

Oh what a wonderful world the slot machine industry is, full of technological evolution and the all-important...

Advice for Responsible Slot Gambling From an ex Addict

Thanks to a combination of improved gameplay and their availability on remote devices, the slots you can...

When You Should Stop Playing Bingo

Since its inception in the late 1800s, Bingo has enjoyed a remarkable rise to popularity, being a...
- Advertisement -Credit Suisse Eyes 2018 Launch for Blockchain Loans PlatformCredit Suisse Eyes 2018 Launch for Blockchain Loans Platform

Why Bitcoin Will Succeed?

If Bitcoin will succeed or not is an interesting question. For the time being, Bitcoin holds a...

Elon Musk Tweets That “Bitcoin” Is Not His Safe Word

By now, you probably know that Elon Musk appears to have knocked up his girlfriend, Grimes. And just when you...

Must read

Math-Based Approaches To Win Slot Games

If the 17th Century was the era...

Reasons To Prefer Slot Games Even When You Are Losing

Oh what a wonderful world the slot...
- Advertisement -Credit Suisse Eyes 2018 Launch for Blockchain Loans PlatformCredit Suisse Eyes 2018 Launch for Blockchain Loans Platform

You might also likeRELATED
Recommended to you