London Stock Exchange Group Launches DiSH for 24/7 Onchain Cash Settlement
LSEG launched DiSH, a digital settlement service using tokenized bank deposits for instant, 24/7 cross-currency settlement on blockchain rails.Summary
The London Stock Exchange Group (LSEG) has introduced the Digital Settlement House (DiSH), a new service designed to integrate commercial bank money onto blockchain infrastructure for continuous, around-the-clock settlement across various currencies and jurisdictions.
The core of DiSH is DiSH Cash, which represents commercial bank deposits as ledger-based tokens, functioning as a "real cash leg" for transactions like foreign exchange and securities settlement, unlike stablecoins. This system aims to resolve long-standing post-trade settlement issues, such as assets being locked for extended periods, by enabling reduced settlement risk through synchronized settlement and faster timelines.
This launch follows successful tests on the Canton Network with major institutions, where tokenized commercial bank deposits were used for transaction legs. LSEG's move aligns with a broader trend noted by Moody's, where fiat-backed stablecoins and tokenized bank deposits are increasingly serving as "digital cash" for liquidity management and settlement in the evolving tokenized financial system.
(Source：Cointelegraph)