SHIFT · EU
Santander, BBVA settle syndicated loan on blockchain; first claimed by banks and utility
Santander and BBVA, Spain's two largest banks, partnered with Iberdrola (utilities) to execute a syndicated financing facility entirely on blockchain infrastructure—a claimed first for traditional banking.
WHY IT MATTERS
Marks shift from blockchain pilots to production settlement of multi-party credit agreements; if replicable, reduces intermediary friction and may reshape syndicated lending workflows across EU.
Source: Finextra · 2026-10-15