Spain’s second largest bank, Banco Bilbao Vizcaya Argentaria (BBVA (MC:BBVA)), has announced the launch of the first blockchain-backed platform for structured green bonds. The news was announced in a press release published on Feb. 19.
BBVA has closed the deal with Spanish insurance house Mapfre, which has invested €35 million (approximately $40 million) to finance sustainable products. To close this deal, BBVA has “issued the first structured green bond using blockchain technology to negotiate the terms and conditions,” the press release states.