Santander is eyeing blockchain for updating securities handling with the creation of a dedicated research team.
The “Digital Investment Banking” team, headed by current leader of Santander’s blockchain lab John Whelan, will “explor[e] the use of tokenized securities in debt capital markets, derivatives and other products.”
José M. Linares, Santander’s senior executive vice-president and global head of Santander Corporate & Investment Banking, noted in the press release that the “wave of digitalization (sic) that is occurring in the financial industry is accelerating:”
“Our clients expect this to result in better solutions, lower costs and new categories of products and services that enable them to access capital markets more efficiently than ever before.”
While various banking sector sources voice concerns about the potential of blockchain in the industry this month, Santander remains committed to leveraging the technology.