Banco Santander Reported on the Establishment of a Research Group for the Study of Blockchain Technology
On July 11, the Spanish company Banco Santander published a press release stating that the company’s management intends to create a research group that will study the Blockchain technology for use in the trading of securities.
The team of Digital Investment Banking, headed by Santander’s chief specialist for Blockchain, John Ulan, will “explor[e] the use of tokenized securities in debt capital markets, derivatives and other products.”
It should be noted that the bank is engaged in the development of Blockchain, following its own strategy after Santander was forced to leave the consortium R3 in 2016.
The vice president of the company Jose M. Linares said that the process of entering the financial sphere in the digital space 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.”
Despite the fact that the vast majority of financial companies and institutions are extremely cautious in the development and application of Blockchain technology in the banking sector, Santander continues to work actively with technology, integrating it into various systems.
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