HQLAᵡ is the European DLT startup backed by several systemically important banks including JP Morgan and HSBC. It enables collateral mobility by locking assets at custodians and transferring legal title via the DLT platform. The key benefit is this supports intraday collateral movements without the settlement delays involved in moving assets between custodians. For a long time HQLAᵡ has supported Triparty agents, but the main functionality has been sourcing collateral from the Triparty agents. Now it has concluded a feasibility initiative that will support Triparty agents as active participants in the platform.
Hence, rather than just moving assets to the platform, Triparty agents can extend their sub-custody networks to include the HQLAᵡ platform.
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