Eight major European financial entities have announced they will work together on a blockchain tech project for recording the issuance of financial warrants, Spanish news outlet el Economista reports today, June 25.
Spanish securities regulator the National Securities Market Commission (CNMV), along with major stock market operator BME, and banks Santander (MC:SAN), BBVA (MC:BBVA), BNP Paribas (PA:BNPP), CaixaBank, Commerzbank (DE:CBKG) and Société Générale (PA:SOGN) have “successfully” completed a Proof-of-Concept, which they call Fast Track Listing. The system was created to register the issuance of warrants in under 48 hours, a process that usually takes more than a week, according to their statement also released today.