Digital Settlement House Pushes 24/7 Cross-Border Settlement

In a move to modernize market infrastructure, London Stock Exchange Group has introduced its new digital settlement house to connect traditional and blockchain-based finance.

LSEG DiSH: a new blockchain settlement platform

The London Stock Exchange Group (LSEG) has launched a blockchain-powered settlement service called Digital Settlement House (DiSH), designed for financial institutions handling both traditional and digital assets. The platform supports 24/7 settlement, enabling participants to move real commercial bank money and settle assets instantly across multiple networks and jurisdictions.

Moreover, the service targets continuous cash movement across currencies, addressing friction in existing systems that rely on limited operating hours and batch processing. By integrating digital and conventional rails, LSEG aims to give institutions more flexibility in managing payments and assets throughout the day.

How DiSH cash works on the ledger

The new service enables near-instant payment-versus-payment (PvP) and delivery-versus-payment (DvP) settlement using commercial bank deposits. These deposits are recorded on the DiSH ledger as “DiSH Cash,” which gives users immediate ownership and transferability within the platform’s environment.

However, the underlying funds remain held at commercial banks in multiple currencies, while their tokenised representations circulate on the DiSH ledger. This structure is designed to preserve the integrity of traditional bank money while harnessing blockchain efficiency.

The platform also acts as a bridge between on-chain and off-chain arrangements, coordinating assets and payments across independent networks. That said, it supports both blockchain-based environments and conventional financial infrastructure, allowing DiSH to orchestrate complex settlement flows without forcing participants to abandon existing systems.

Connecting cash, securities and digital assets

According to LSEG, the digital settlement house expands the range of tokenised cash and cash-like solutions available to institutional markets. For the first time, the group says, it offers a real cash solution tokenised on blockchain technology using cash in multiple currencies that is held at commercial banks rather than at a central bank.

Daniel Maguire, Group Head of LSEG Markets and CEO of LCH Group, emphasized this structural shift. “LSEG DiSH expands the tokenised cash and cash-like solutions available to the market, and for the first time, offers a real cash solution tokenised on the blockchain utilizing cash in multiple currencies held at commercial banks,” he said.

Risk reduction and liquidity optimization

LSEG highlights that instant, synchronized settlement can shorten settlement timelines and reduce counterparty risk across markets. Moreover, settling transactions in near real time helps unlock assets that might otherwise be tied up in pending trades, increasing collateral availability and supporting more efficient balance sheet management.

The company also stresses the potential to improve liquidity management by enabling users to move cash and assets continuously rather than waiting for end-of-day cycles. This round-the-clock operating model can support margin management and asset optimization for banks, brokers and clearing entities that operate in multiple time zones.

Integrating existing and new market infrastructures

In commenting on the rollout, Maguire underlined the service’s integration capabilities across markets and technologies. “This innovative service will enable users to reduce settlement risk and integrate existing cash, securities, and digital assets across new and existing market infrastructure. We look forward to developing this service in partnership with the market,” he noted.

Furthermore, DiSH aims to support cross-border cash movement by linking different currencies and jurisdictions on a single coordinated platform. By combining blockchain tools with established financial frameworks, LSEG is positioning DiSH as a foundational layer for next-generation settlement workflows.

Overall, the launch of LSEG DiSH signals a strategic step by a major exchange group to connect tokenised commercial bank deposits with traditional financial systems, aiming to reduce risk, boost liquidity and deliver round-the-clock settlement for global institutions.