Coordinators of a financial-industry backed blockchain project say they have successfully demonstrated that the distributed ledger technology can be used to syndicate, trade and make payments on leveraged loans.

The 90-minute demonstration was carried out this week by Synaps Loans LLC, Credit Suisse and financial services consortium R3. Participating instutions included Barclays, BBVA, Danske Bank, Royal Bank of Scotland, Scotiabank, Societe Generale, U.S. Bank and Wells Fargo on the sell-side; and firms such as AllianceBernstein, Eaton Vance Management, KKR and Oak Hill Advisors on the buy side, according to the release.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.