The bank’s securities services division has created an instrument called a mini-bond and plans to work on a blockchain platform that would enable retail investors to lend money to businesses using these bonds. This isn’t the first time the French multinational bank attempts to explore innovative ways to use blockchain to better serve small businesses. In April 2016 BNP Paribas announced intentions to deploy a blockchain-based crowdfunding platform and in June 2016, along with six other French financial institutions, a SME lending effort.
Marc Younes, BNP Paribas Securities Services Innovation & Digital Lab head of business management, said the platform is one that stands to benefit small businesses, while potentially helping standardize mini bond management.
At the beginning of September 2016, BNP Paribas opened an innovation laboratory at its New York headquarters that aims at building blockchain solutions to employee problems.
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