Spain-based stock exchange Bolsas y Mercados Españoles (BME) is reportedly having plans down its pipeline to conduct testing for its blockchain infrastructure, dedicated to SMEs, after a successful pilot. 

Specifically, the next pilot stages from the BME will reportedly include entities that have been operational within the nation’s SME financing ecosystem under the aegis of a regulatory sandbox, established by Spain’s Ministry of Economic Affairs and Digital Transformation.

This sandbox is reportedly perceived as a crucial development, in terms of promoting enhanced fintech growth across Spain, with a concentration on establishing a more competitive race, and at the same time simplifying the process of breaking into the tech for individuals. 

The above referred pilot stage – which happened last year – will reportedly gather participation from investment servicing firms, as well as business credit providers.

As available in the second round of the trial, the BME will reportedly intend to run an examination on how suitable an Ether-powered system could be, in terms of gathering capital for limited liability firms, existing outside the scope of the regular traditional bank financing route.

As a matter of fact, the BME’s blockchain platform reportedly has a primary goal of offering support for SME financing crypto assets, which function as representatives of funding avenues, such as convertible notes and participatory loans.

The initiative is reportedly also an additional step of establishing BME’s digitization policy in recent times. In March 2019, the Spanish Stock Exchange finalized the pilot testing for its blockchain-powered solution, dedicated to electronic certificates of collateral pledges.

Regarding the SME financing project, the blockchain platform will reportedly make a crypto wallet available as a storing place for SMEs.