New York Mellon Bank has announced that it is becoming an early adopter of the lending platform EquiLend 1Source and is receiving a minority equity stake in EquiLend.

BlockBeats News, March 16th, According to Ledger Insights, BNY (Bank of New York Mellon) announced that it will become an early user of the lending platform EquiLend 1Source, marking its further investment in the securities lending field. Additionally, BNY will also receive a minority stake in EquiLend.

Reportedly, EquiLend's 1Source platform utilizes Distributed Ledger Technology (DLT) and aims to enhance the transparency and efficiency of securities lending. The platform's launch is expected to transform the traditional securities lending operation, providing users with more efficient trading and management tools.