LDAC is Sony's proprietary Bluetooth audio codec.
It support 3 bitrates: 990, 660 and 330kbps.
990 is about 3 times as much as the standard SBC codec.
It can transmit 2 channel PCM audio up to 24 bit / 96 kHz.
From Android 8 (Oreo) on, LDAC is included as one of the Bluetooth drivers.
The Android Open Source Project includes an encoder for Sony's LDAC codec, so a separate license or blob from Sony is not needed for it. To integrate the LDAC codec into your device, register with Sony and follow the LDAC certification process.
You can get a driver for Windows as well.
Nice looking pictures by Sony.
It almost suggest LDAC is lossless but is it?
The bit rate of a 24/96 recording is 3072 kbs
Obvious LDAC has to do a substantial amount of lossy compression to reduce this to 990 kbs.
The bit rate of CD audio 1411 kbs.
Assuming you can get it to run at 990 kbs, LDAC still has to apply lossy compresion to fit this into 990.
Robert Triggs has a technical description of how LDAC (possibly) might work.
It is lossy but in a clever way.
Lossy or not, at 990 kbs it has a substantial higher bit rate compared with the 320 kbs mandatory SBC codec.