Goldman Sachs Joins Equilend's 1Source DLT Platform for Securities Finance
Goldman Sachs has officially joined Equilend's 1Source distributed ledger technology (DLT) platform, joining existing participants BNY and National Bank of Canada. The move aims to streamline securities finance workflows by creating a single 'golden source of truth,' which reduces transaction breaks and eliminates the need for manual reconciliations. The adoption of this DLT-based infrastructure is expected to improve profitability for market participants by reducing accrual errors, lowering third-party comparison fees, and increasing settlement rates. Equilend estimates that the platform has the potential to save industry participants hundreds of millions of dollars through enhanced operational efficiency and optimized resource allocation.
Topics: Blockchain Distributed Ledger Technology Fintech Operational Efficiency Securities Finance