Yes Bank has successfully completed the issuance of corporate debt using blockchain built by fintech MonetaGo on R3’s Corda Enterprise technology. The transaction marks the first time in Asia that a commercial paper (CP) has been digitally issued using blockchain technology.
The Rs one billion - equivalent to US$14.5 million - transaction was carried out on behalf of Indian conglomerate Vedanta and used distributed ledger technology (DLT) to share documentation electronically among all parties involved and avoiding the lengthy paperwork that traditionally has applied to such transactions.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
