Santander Reveals the $20 Million Ethereum Bond

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Summary

The process begins with the creation of 20 million SUSD tokens to represent the actual $20 million Santander received off-chain by the unnamed investor. At the other end, Santander receives these 20 million tokens, and then they burn them: Santander fiat token, Sep 2019So, that’s it. Santander, one of the world’s biggest bank, has tokenized a $20 million bond offering for and by itself on ethereum’s blockchain. Anyway, so the Santander bond buyer now has 20 million kind of tokenized dollars. The next day, he or she sends this 20 million to 0xa5, which looks like the bond contract sort of thing.

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Santander, one of the world’s biggest bank, has tokenized a $20 million bond offering for and by itself on ethereum’s blockchain.

John Whelan, head of digital investment banking at Santander, has now provided details on how exactly this bond was tokenized.

The process begins with the creation of 20 million SUSD tokens to represent the actual $20 million Santander received off-chain by the unnamed investor.

Santander tokenized ethereum bond, Sep 2019

As we can see, three days ago they created this token. Tangentially, as some of you may well be confused, they haven’t found the private key to the 0x0000 burner address.

Instead, and somewhat interestingly, the best practice is apparently to create tokens by having a...

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