Note from the Publisher: This is the kind of story that makes me realize I have to redo my toolbar on this website soon. The story is about a French Bank – BNP Paribas (normally filed under banks/payments tab) – who is launching a new mini-bond product (markets/trading tab) – using blockchain technology (bitcoin/blockchain tab) in collaboration with several crowdfunding sites (P2P/crowdfunding tab). And this happens way more than you may realize, and shows the convergence of fintech across multiple sectors. While the rollout will be in France, BNP Paribas recently launched an innovation lab in the US, so it can’t be very long before they will explore bringing this new product to the United States, can it?
“BNP Paribas has revealed its securities services division is working on a blockchain platform that would enable retail investors to lend money to businesses via an instrument known as a mini-bond.
According to Financial News, BNP Paribas Securities Services is building a distributed ledger platform that will maintain and record mini-bonds issued through the platform. For the effort, BNP is partnering with French crowdfunding startups Enerflip, Lendosphere and Lumo.”