‘From dial-up to broadband’: Banco Santander exec talks up DLT utilization in finance

Regulated decentralized finance that combines permissioned layer-two protocols and a public blockchain network could be the future of fintech.John Whelan, the head of Banco Santander’s blockchain lab in Madrid, recently touted the potential for increased decentralized ledger technology adoption in mainstream finance.

The Banco Santander digital asset chief also stated that DLT utilization in mainstream finance needs to reach a point where ERC-20, or any other blockchain-based token standard, becomes suitable for use in what Whelan termed “regulated DeFi” or “reg-DeFi.”

Whelan also touched on the recent announcement that Banco Santander was one of three financial institutions selected by the European Investment Bank to issue a two-year 100-million-euro ($120 million) digital bond.Societe Generale, one of the other banks chosen for digital bond issuance by the EIB, also recently issued a security token on the Tezos blockchain.

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