BNP Paribas to Launch Blockchain Crowdfunding Tools in 2016
A subsidiary of BNP Paribas Group has announced a partnership that will find it leveraging blockchain technology to enable private companies to issue securities. Revealed today, the partnership finds BNP Paribas Securities Services, its asset services division, working with investment platform SmartAngels on a pilot the firms said would be launched in the second half of 2016, pending regulatory approval. In statements, BNP lauded the effort as a "major step" in advancing crowdfunding. The project will see BNP Paribas developing and managing a registry for shares in....
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BNP Paribas is choosing to begin its public experiments with blockchain tech by pursuing one of its less discussed use cases – crowdfunding. The French financial services giant intends to launch a private securities program built using blockchain tech. The effort, a partnership with SmartAngels, a firm that allows entrepreneurs to raise money from private and professional investors, even has ambitious attempts to go live by the second half of 2016. In interview, BNP Paribas product manager Johann Palychata said that crowdfunding was selected as one of the company’s first use cases due to....
BNP Paribas Securities, the French bank, has partnered with SmartAngels, a Paris, France-based crowdfunding platform, to pilot the use of blockchain technology for funding startups and SMEs (small and medium-size enterprises), according to La Revue Du Digital, a French business news source. The test, a first in France, will allow unlisted firms to issue securities in the primary market. Investors will also have access to the secondary market. The pilot is scheduled to launch in the second half of the year, pending regulatory approval. BNP Paribas will operate the platform. The challenge is....
BNP Paribas and the Bank of Ireland have started trial runs for their respective blockchain applications. BNP Paribas has partnered with a crowdfunding platform, Smart Angels for the same. The banking sector is finally making some headway with their exploration of blockchain technology. Soon after UBS and Deutsche Bank made an announcement about the success of their blockchain technology experiment, two more international banks have now come up with their own solutions and testing them out. The French banking firm, BNP Paribas and the Bank of Ireland are the duo who have brought their....
BNP Paribas has revealed its securities services division is working on a blockchain platform that would enable retail investors to lend money to businesses via an instrument known as a mini-bond. According to Financial News, BNP Paribas Securities Services is building a distributed ledger platform that will maintain and record mini-bonds issued through the platform. For the effort, BNP is partnering with French crowdfunding startups Enerflip, Lendosphere and Lumo. The announcement is the latest that finds the French multinational bank exploring how it could use blockchain to better serve....
In fact, the collateral management blockchain project has an internal name, and is called Collat’Shaker. This project will improve efficiency in international trade transactions involving commodities. Everyone in the cryptocurrency world is well aware of how BNP Paribas is actively working on blockchain technology. Things have taken an interesting turn, as the financial institution is going into co-development mode. Various clients will be invited to pilot blockchain applications with a focus on transaction banking. An exciting development for distributed ledgers, that much is certain. The....