The DLT (Distributed Ledger Technology) HQLAx platform recently launched its agency securities lending service, with outstanding balances reaching 1 billion euros. BNY Mellon, Goldman Sachs and HSBC are the original participating banks. The platform launched its core securities lending service in 2019, initially for the exchange of collateral between banks. It began piloting agency transactions two years ago and has now expanded to asset managers. By working with three-party agents and custodians, HQLAx enables collateral in-situ retention and intraday delivery-to-delivery (DvD) settlement. Amar Amlani of Goldman Sachs said that the application of HQLAx's DLT solution is expanding, bringing practical benefits such as precise movement of collateral. In addition, HSBC led HQLAx's Series C funding round, with participants including BNP Paribas, BNY Mellon, Citi, Deutsche Börse, Goldman Sachs, and JP Morgan.