Banco Santander has announced that a new digital investment banking team will be formed within Santander Corporate & Investment Banking.
The team will be led by John Whelan, who is currently the director of Santander’s blockchain lab.
The bank plans to utilise blockchain and other new technologies to change how securities are issued, traded and settled.
The team will aim to explore the use of tokenised 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, said: “The wave of digitalisation 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.
“We want to offer our clients what they expect from us.”
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