TechFlow reported on March 16 that according to Ledger Insights, BNY (The Bank of New York Mellon) announced it will become an early adopter of EquiLend's lending platform, 1Source, marking its further investment in the securities lending space. Additionally, BNY will acquire a minority stake in EquiLend.
The 1Source platform by EquiLend leverages distributed ledger technology (DLT) to enhance transparency and efficiency in securities lending. The launch of this platform is expected to transform traditional securities lending operations, providing users with more efficient trading and management tools. BNY’s participation not only brings financial support to EquiLend but also offers a significant user base for market expansion. As one of the initial users, BNY will gain early access upon the platform’s launch and will be involved in further product development and optimization.
