Credit Suisse is leading a blockchain project seeking to develop a blockchain-based platform for syndicated loans; Emmanuel Aidoo from Credit Suisse is leading the project which began last fall and is expected to launch in 2018; the platform would involve more efficient processing of syndicated loans which involve multiple lenders providing capital to a corporate borrower; the parties involved believe that a blockchain-based syndicated loan platform could increase deal flow by reducing costs and processing time, making syndicated loans a more attractive investment for lenders. Source
Caitlin Long, chairman and president of Symbiont, talks about why blockchain technology is ideal for syndicated loans; syndicated loans are some of the most complexly structured loans in the credit market; they involve multiple originators for a single loan and add significant balance sheet capital for corporations; blockchain could help reduce the syndicated loan deal funding process currently averaging over 20 days; it could also streamline documentation and loan processing providing significantly improved transparency and also supporting better loan market trading activities; Caitlin will be speaking about blockchain and its integration with loans at LendIt USA 2017. Source