Bank of New York Mellon announced that it has become an early user of lending platform EquiLend 1Source and has obtained a minority stake in EquiLend
According to online reports, BNY (Bank of New York Mellon) announced that it will become an early user of lending platform EquiLend1Source, marking its further investment in securities lending. In addition, BNY will also receive a minority stake in EquiLend. It is reported that EquiLend's 1Source platform uses distributed ledger technology (DLT) to improve the transparency and efficiency of securities lending. The launch of the platform is expected to change the traditional way securities lending operates and provide users with more efficient trading and management tools. BNY's participation not only brings financial support to EquiLend, but also provides an important user base for its marketing. As one of the initial users, BNY will be able to obtain priority experiences in the early stages of the platform's launch and participate in further product development and optimization.
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