As the news release outlines, Santander issued the $20 million bond — which carries a quarterly coupon of 1,98 — while one of the Santander Group’s units purchased the bond at market price. Santander Securities Services operated as tokenization agents and custodian of the cryptographic keys used for the issuance, with Santander Corporate and Investment Banking (CIB) acting as a dealer.
Santander has issued a $20 million bond directly onto the Ethereum blockchain, where it will remain until the end of its one-year maturity Major Spanish bank Banco Santander has issued what it claims is the first end-to-end blockchain bond. In a Sept. 12 news release, the bank revealed that it had issued a $20 million bond directly onto the Ethereum (ETH) blockchain, where it will remain until the end of its one-year maturity. Faster, cheaper and simpler than legacy systemsSantander has claimed that its use of blockchain technology for end-to-end bond issuance represents a first step towards a potential secondary market for mainstream security tokens.