Goldman Sachs has started using EquiLend's 1Source, a shared distributed ledger platform for securities lending and financing. The platform creates a common record of transactions and their changes that participants share. The aim is to cut manual reconciliation, mismatches and settlement failures. Goldman joins BNY and National Bank of Canada, which have been running live trades on the platform since October 2025.

What it means: Securities lending is a large but little-known market, in which institutional investors lend shares and bonds to banks and other participants in return for a fee and collateral. Each trade changes many times during its life, with recalls, returns and collateral adjustments, and each side keeps its own records. Differences between those records cause delays and costs, especially now that US settlement has been cut to one day and Europe is preparing to do the same in 2027. A shared record updated for everyone at once solves exactly that problem, and the arrival of one of the largest investment banks gives the platform critical mass. The news also shows distributed ledger technology finding practical use in market infrastructure, away from cryptocurrencies, alongside the recent launch of DTCC's tokenisation service. For European custodians and asset managers, the EU move to one-day settlement will demand automation and better data matching, so such solutions will gain interest. Their value depends on getting as many counterparties as possible on board.

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