Spanish banks Santander and BBVA have taken a significant step in blockchain adoption by administering a EUR 150 million ($168 million) syndicated loan entirely on a shared ledger. The loan, arranged with Iberdrola, marks the first time a syndicated loan's full lifecycle, from execution to maturity, has been managed using distributed ledger technology (DLT). This development builds on BBVA's earlier 2018 trial, which focused only on the negotiation and contracting process.
Meanwhile, Visa has launched its stablecoin prefunding capability for Visa Direct into commercial production. The service, enabled by Inyo Global, allows businesses to prefund cross-border payouts with USDC in near real time, offering an alternative to traditional funding methods. Visa Direct supports payouts across more than 180 countries, though transaction volumes through the new capability have not been disclosed.
The African Development Bank Group (AfDB) has expanded its trade-finance guarantee network, aiming to address the continent's unmet demand for trade financing. The AfDB announced a $60 million Trade Finance Transaction Guarantee Facility with Equity Bank Kenya, along with agreements with Mashreq and Habib Bank AG Zurich Kenya. These guarantees help confirming banks support transactions they might otherwise decline, particularly benefiting SMEs.
Other notable developments include Cross River's integration of Ripple USD (RLUSD) into its core banking infrastructure, JP Morgan's support for Mercado Libre's Global Selling program, and the expansion of the Western Union and dLocal partnership into African remittance payouts. Proparco also provided AFG Bank Guinée with EUR 60 million in facilities to support SME and trade finance.