Goldman Sachs joins Equilend 1Source DLT platform

Goldman Sachs has joined the Equilend 1Source distributed ledger technology (DLT) platform, joining existing participants BNY and National Bank of Canada. The platform is designed to transform global securities finance workflows by establishing a single source of truth for lending and financing transactions.

By utilizing DLT, the 1Source platform aims to increase efficiency, reduce transaction breaks, and eliminate the need for manual reconciliations. According to Equilend CEO Rich Grossi, the involvement of major borrowers like Goldman Sachs is expected to drive greater operational efficiency and cost reductions across the market community. Third-party estimates suggest the platform has the potential to save industry participants hundreds of millions of dollars through optimized costs and improved settlement rates.