Vottun🌐🔗
@vottun
🚀 Vottun x Banco De España: Revolutionizing cross-border payments with blockchain technology - Real Use Case #2 Traditional SWIFT transfers are slow, costly and outdated for modern multinational needs. Vottun built a blockchain-based alternative focused on speed, transparency and efficiency. Key improvements: 💱 Stablecoin-based cross-border transfers 🧾 Automated netting across subsidiaries 📜 On-chain smart contract settlement 👁️🗨️ Real-time visibility for auditors and regulators This isn’t just a technical upgrade: it’s a leap forward in financial infrastructure.
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Vottun🌐🔗
@vottun
⚙️ Let’s break it down: The process begins when each subsidiary uploads their invoices to a unified platform. Instead of separate payments, a blockchain engine calculates a global balance across the group. 🔃 Smart “netting” reduces transfer volume ✅ The parent company authorizes the net result 📜 Smart contracts lock in: exchange rates, terms and repayment conditions 💱 Payments are executed in stablecoins and converted into local currencies 🧾 All actions are recorded immutably on-chain What used to take 48 hours or more is now settled in minutes: securely and transparently. Auditors, regulators and finance teams gain instant access to reports, ensuring compliance without friction.
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