BTC
$104,198.71
-
1.28%
ETH
$2,540.76
-
1.38%
USDT
$1.0004
+
0.00%
XRP
$2.1711
-
0.10%
BNB
$658.53
-
1.43%
SOL
$155.76
-
3.15%
USDC
$0.9997
-
0.02%
DOGE
$0.1933
-
4.39%
TRX
$0.2692
-
0.90%
ADA
$0.6778
-
2.93%
HYPE
$32.69
+
1.07%
SUI
$3.2086
-
6.33%
LINK
$13.97
-
2.77%
AVAX
$20.72
-
3.44%
XLM
$0.2658
-
3.20%
BCH
$413.31
+
1.91%
LEO
$8.7406
-
5.11%
TON
$3.1079
-
5.69%
SHIB
$0.0₄1266
-
4.26%
HBAR
$0.1657
-
4.60%
Logo
  • News
  • Prices
  • Data
  • Indices
  • Research
  • Events
  • Sponsored
  • Sign In
  • Sign Up
Markets
Share this article
X iconX (Twitter)LinkedInFacebookEmail

Major Banks, Startups Advance Blockchain Syndicated Loan Pilot

A group of banks and finance firms led by Credit Suisse have completed the next phase of a blockchain proof-of-concept focused on syndicated loans.

By Garrett Keirns
Updated Dec 10, 2022, 9:26 p.m. Published Mar 30, 2017, 8:15 p.m.
Loans

A group of banks and financial firms led by Credit Suisse recently completed the second phase of a blockchain proof-of-concept focused on syndicated loans.

The system was developed Synaps, a joint venture backed by blockchain startup Symbiont and Ipreo, a fintech firm co-owned by Goldman Sachs and private equity giant Blackstone.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms of use and privacy policy.

The demonstration drew a variety of finance firm as participants, including Barclays, BBVA, Danske Bank, LSTA, Royal Bank of Scotland, Scotiabank, Societe Generale, State Street Corporation, TenDelta LLC, U.S. Bank and Wells Fargo. Buy-side companies AllianceBernstein, Eaton Vance Management, KKR, and Oak Hill Advisors took part in the trial as well. Distributed ledger startup R3's research outfit managed the test.

The effort, first announced in September, will continue with further refinement of the tech developed by Ipreo. Emmanuel Aidoo, who leads Credit Suisse's blockchain efforts, said that the bank intends to keep working closely on the initiative.

He said in a statement:

"Over the coming months we will work with Symbiont and Ipreo to implement the remaining functions to allow for distributed ledger technology to support a syndicated loan facility from origination to payoff, and work toward market adoption. The technical and market expertise that the project participants brought to the table means this solution will be tailor-made for use in live transactions."

Work on applying blockchain to the syndicated loan market – in which multiple lenders pool capital for single borrowers – has been pursued by other financial institutions as well. Last year, Japan-based Mizuho and Microsoft began work on a syndicated loan project.

Image via Shutterstockhttps://www.shutterstock.com/image-photo/miniature-businessman-team-training-gold-coins-350598629?src=acNpNgYS59yRxfAFj-oihg-1-3

NewsSymbiontCredit SuisseSynapsLoan SyndicationIpreo
Garrett Keirns

Garrett Keirns is an editorial intern at CoinDesk. In 2011, he co-founded the Cincinnati Bitcoin MeetUp. Before CoinDesk, he contributed to bitcoin related publications CoinReport.net and News.Bitcoin.com.

Garrett holds value in bitcoin and has used other digital currencies. He also provides blockchain consultation services to at least one individual invested in the space. (See: Editorial Policy).

Follow Garrett here: @garrettkeirns. Email garrett@coindesk.com.

Picture of CoinDesk author Garrett Keirns
Latest Crypto News
Article image

Bitcoin Whales Seem to Be Calling a Top as BTC Price Consolidates

May 29, 2025

Bitcoin (BTC) price on May 19 (CoinDesk)

Bitcoin Climbs to $105K; Crypto ETF Issuer Sees 35% Upside

May 29, 2025

Breaking News

Breaking New test

May 29, 2025

FastNews (CoinDesk)

Fast News test

May 29, 2025

Article image

Ethereum Surges 4% on Massive Volume as Institutional Interest Grows.

May 27, 2025

Article image

test research article

May 22, 2025

Top Stories
President Donald Trump (TheDigitalArtist/Pixabay)

Bitcoin Poised to Top Record as Trump Inauguration Nears, Major Coins Due for 10% Swings: Traders

Jan 16, 2025

SHIB-USD 1-month chart shows 24.57% gain ending at $0.00004146 on May 15

Shiba Inu (SHIB) Price Drops 7% in 24 Hours but Remains Up 25% Over the Past Month

May 15, 2025

Screen Shot 2018-08-12 at 11.22.53 PM

In Rare Decision, ICO Founders Will Delay Crypto Paydays – For a Decade

Aug 13, 2018

(CJ/Unsplash)

XRP Futures Start Trading on CME

May 19, 2025

Tax sign (The New York Public Library/Unsplash)

Crypto Capital Gains and Tax Rates 2022

Nov 14, 2022

Swap

Atomic Swaps: What Are They & How Do They Work?

Jan 11, 2024

Only 2 articles remaining this month.

Sign up for free

About

  • About Us
  • Masthead
  • Careers
  • CoinDesk News
  • Crypto API Documentation

Contact

  • Contact Us
  • Accessibility
  • Advertise
  • Sitemap
  • System Status
DISCLOSURE & POLICES
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
EthicsPrivacyTerms of UseCookie SettingsDo Not Sell My Info

© 2025 CoinDesk, Inc.
X icon
Sign Up
  • News
    Back to menu
    News
    • Markets
    • Finance
    • Tech
    • Policy
    • Focus
  • Prices
    Back to menu
    Prices
    • Data
      Back to menu
      Data
      • Trade Data
      • Derivatives
      • Order Book Data
      • On-Chain Data
      • API
      • Research & Insights
      • Data Catalogue
      • AI & Machine Learning
    • Indices
      Back to menu
      Indices
      • Multi-Asset Indices
      • Reference Rates
      • Strategies and Services
      • API
      • Insights & Announcements
      • Documentation & Governance
    • Research
      Back to menu
      Research
      • Events
        Back to menu
        Events
        • Consensus Hong Kong
        • Consensus 2026
        • CoinDesk: Policy & Regulation
      • Sponsored
        Back to menu
        Sponsored
        • Thought Leadership
        • Press Releases
        • CoinW
        • MEXC
        • Phemex
        • Advertise
      • Videos
        Back to menu
        Videos
        • CoinDesk Daily
        • Shorts
        • Editor's Picks
      • Podcasts
        Back to menu
        Podcasts
        • CoinDesk Podcast Network
        • Markets Daily
        • Gen C
        • Unchained with Laura Shin
        • The Mining Pod
      • Newsletters
        Back to menu
        Newsletters
        • The Node
        • Crypto Daybook Americas
        • State of Crypto
        • Crypto Long & Short
        • Crypto for Advisors
      • Webinars & Events
        Back to menu
        Webinars & Events
        • Consensus 2025
        • Policy & Regulation Conference
      Select Language
      English enEspañol esFilipino filFrançais frItaliano itPortuguês pt-brРусский ruУкраїнська uk