TL;DR
- LSEG launches a blockchain settlement platform using tokenized bank deposits.
- The new DiSH system operates continuously and settles transactions in moments.
- The platform followed a successful proof of concept on the Canton Network.
The London Stock Exchange Group introduced a new settlement platform on Thursday. The system is called LSEG Digital Settlement House, or DiSH. It uses tokenized commercial bank deposits to settle transactions. The service operates continuously, every day of the week.
DiSH facilitates so-called payment-versus-payment and delivery-versus-payment settlements. It works across multiple currencies and different blockchain networks. The platform functions through accounts held at commercial banks. This structure gives members immediate ownership of deposit tokens.
A Platform for Modern Liquidity Management
The new service provides intraday liquidity management. It allows for borrowing and lending within the same trading day. The system reduces settlement timelines from days to moments. It also increases the availability of collateral for participants.
Daniel Maguire, Group Head of LSEG Markets, explained the offering. He stated DiSH expands tokenized cash solutions available to the market. For the first time, it offers a real cash solution tokenized on blockchain. The system uses cash held in multiple currencies at commercial banks.
The platform operates under the group’s Post Trade Solutions division. It can settle transactions on its own private ledger. Alternatively, it can act as a notary service for settlements on other connected networks. This flexibility is a core design feature.
Building on a Completed Proof of Concept
LSEG conducted this test with software firm Digital Asset and a consortium of financial institutions. The group executed transactions on the Canton Network during this phase. Commercial bank deposits were tokenized and used as the settlement asset.
During the test, ownership of bank deposits was recorded on the DiSH ledger. This allowed participants to transfer deposits instantaneously. It provided a true cash leg for settlement, which was previously difficult on digital asset networks. The success of this test led to the full platform launch.
The live service now unlocks assets typically frozen during settlement cycles. It enables continuous use of cash, securities, and digital assets. Settlement risk lowers due to shorter timelines and synchronized settlement across asset types. The system is now available for client use.
This development follows another blockchain initiative from LSEG. The group launched a platform for private funds in September 2025. That service was developed in partnership with Microsoft. It also uses distributed ledger technology for post-trade services. DiSH represents a logical next step in the group’s digital asset strategy.
