London Stock Exchange Group (LSEG) has introduced a new blockchain-based platform aimed at modernizing how financial transactions are settled. Announced on Thursday, the service allows transactions backed by tokenized commercial bank deposits to be settled continuously, without the constraints of traditional market hours.
The platform, known as LSEG Digital Settlement House (DiSH), is designed to support real-time payments-versus-payment and delivery-versus-payment settlement across multiple currencies. According to LSEG, the system enables immediate transfer of ownership and supports around-the-clock liquidity management, a shift from the batch-based settlement cycles that still dominate much of global finance.
Operating through accounts held at commercial banks, DiSH gives market participants direct access to tokenized deposits that function as real cash equivalents. This structure allows firms to borrow or lend funds intraday, shorten settlement timelines, and free up collateral that would otherwise be locked during standard settlement periods.
LSEG said the platform will sit within its Post Trade Solutions division and can either settle transactions on its own ledger or act as a notary layer for settlements conducted on connected blockchain networks. This flexibility is intended to make DiSH compatible with a range of existing and emerging digital market infrastructures.
Daniel Maguire, Group Head of LSEG Markets and CEO of LCH Group, described the launch as a step forward for tokenized cash solutions. He said the platform is the first of its kind to offer a blockchain-based settlement system using real cash held in multiple currencies at commercial banks, rather than relying on synthetic or proxy assets.
The move follows a completed proof of concept carried out with software firm Digital Asset and a group of financial institutions. That trial ran on the Canton Network and tested the use of tokenized commercial bank deposits as a settlement asset across different currencies and asset classes. During the test phase, ownership of deposits was recorded on the DiSH ledger, allowing instant transfers and creating a true cash leg for settlement.
With the platform now live, LSEG says participants can keep cash, securities, and digital assets in active use rather than having them immobilized during settlement windows. Shorter and synchronized settlement cycles are also expected to reduce settlement risk while increasing collateral efficiency.
The launch builds on LSEG’s broader push into distributed ledger technology. In September 2025, the group rolled out a blockchain-based platform for private funds in partnership with Microsoft, also focused on improving post-trade processes.
