Digital Asset’s Daml and Canton smart contract solution is the chosen technology for Equilend’s 1Source, a DLT solution that initially targets securities lending reconciliations.
EquiLend’s platform processes $2.8 trillion in monthly securities lending trades. It’s an industry initiative backed by the likes of Bank of America, BlackRock, Credit Suisse, Goldman Sachs, JP Morgan, Morgan Stanley, State Street and others.
The problem that Equilend hopes to address with 1Source is reconciliations because each bank holds a separate copy of the securities lending transaction. The challenge is not so much the initial transaction but keeping changes in sync between the counterparties.
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