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BNP Paribas using blockchain tech for mini-bonds

BNP Paribas’ custody wing has announced a new blockchain platform designed to help private firms lend money to businesses using mini-bonds. This will enable investors to issue mini-bonds for private company shares, and will record all bonds issues and transferred in a distribute ledger. BNP Paribas has said that using the technology will enable more efficient transactions.

The FI started the project following a ruling by the French government that allowed private companies to use crowdfunding platforms to issue mini-bonds. The bank is also partnering with startups Lendosphere, Enerflip and Lumo.

“Blockchain technology is particularly suited to the fundraising needs of private companies as transactions volumes are typically lower than for listed companies,” says Marc Younes, Head of Business Development at BNP Paribas Securities Services Innovation and Digital Lab. “This technology could also serve to standardise processes around the trade lifecycle of mini-bonds.”

The French bank was recently announced as one of six new members in the Hyperledger Project, which seeks to create an open standard for blockchain technology.

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