The London Stock Exchange Group (LSEG) has introduced a new digital settlement platform designed to connect commercial bank money with blockchain infrastructure, marking a significant step in the modernization of post-trade finance.
The platform, called Digital Settlement House (DiSH), enables instant, 24/7 settlement across both blockchain-based networks and traditional payment systems, supporting multiple currencies and jurisdictions. At the center of the system is DiSH Cash, a ledger-based, tokenized representation of commercial bank deposits. Instead of relying on stablecoins, the platform uses direct claims on real bank deposits, creating what LSEG describes as a “real cash leg” for transactions involving foreign exchange, securities, and digital assets.
The service is built to address long-standing inefficiencies in settlement processes, where assets and cash are often locked for hours or days due to fragmented systems. By enabling payment-versus-payment (PvP) and delivery-versus-payment (DvP) across connected networks, DiSH aims to reduce settlement risk, shorten timelines, and increase collateral availability.
The launch follows a successful proof-of-concept on the Canton Network, where tokenized bank deposits were used to settle multi-asset and multi-currency transactions. Ownership of deposits was recorded directly on the DiSH ledger.
As financial markets move toward tokenized infrastructure, both tokenized bank deposits and stablecoins are increasingly viewed as digital cash, supporting liquidity management, collateral movement, and faster settlement in a more connected global financial system.
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This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.