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After a successful pilot in 2020, the Spanish stock exchange Bolsas y Mercados Españoles or BME will test its blockchain infrastructure for financing small and medium-sized enterprises.
according to Finextra On Friday, BME’s next set of trials will involve the support of the regulatory sandbox created by the Spanish Ministry of Economic Affairs and Digital Transformation, which is part of the country’s SME financing ecosystem.
As previously reported by Cointelegraph, this sandbox is considered Important steps To promote the greater development of Spanish financial technology, the focus is on improving competition while reducing the barriers to entry for participants.
The aforementioned pilot phase of 2020 has attracted investment service companies and commercial credit providers.
As part of the second round of testing, BME may seek to study the applicability of an Ethereum-based system to raise funds for limited liability companies in addition to the usual traditional bank financing channels.
In fact, BME’s blockchain platform aims to promote the financing of digital assets for SMEs, which represent financing channels such as convertible notes and participatory loans.
This project marks the recent further expansion of BME’s digital policy.As early as March 2019, the Spanish Stock Exchange conducted a pilot test of its shares Mortgage pledge electronic certificate system based on blockchain.
For SME financing projects, the blockchain platform will also include a digital wallet for SMEs to store their assets, including financial investment tools and electronic money.
Trade finance is another touted use case of blockchain Distributed ledger technology solutions are being launched Remove major obstacles that affect the financing of SMEs.
In addition to SMEs, major banks are also looking for blockchain technology to come Limit trade finance risks.
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