Deal is the first transaction of its kind to utilize distributed ledger technology
Angel Oak Capital Advisors and Brightvine, a blockchain-powered investment platform, have announced the successful issuance of a $147.55 million securitization – the first-ever bank subordinated debt transaction to employ blockchain technology.
The $147.55 million transaction (BFNS 2022-1), which was first announced in April, consists of subordinated debt from community banks across the United States issued by Angel Oak. The securitization utilized the Brightvine portal, a management platform for conducting primary offerings of digital assets via blockchain, to coordinate documentation and loan information among parties.
“Our partnership with Angel Oak is based on our shared goal of fully realizing the potential of distributed ledger technology to increase efficiency and transparency throughout the securitization process, and we’re excited to be involved in bringing this new blockchain-powered debt...
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