London Stock Exchange Rolls Out Blockchain…“To Support On-Chain Settlement”

London Stock Exchange (LSEG) will adopt blockchain technology to support on-chain settlement.

The London Stock Exchange said on the 15th (local time) that it will launch a new digital settlement service, “LSEG DiSH.” The exchange said, “LSEG DiSH is an open platform that enables instant settlement between independent settlement networks on-chain and off-chain,” adding that it “supports 24-hour commercial bank fund transfers to provide practical cash services for FX and digital-asset trading and settlement.”

LSEG also conducted a proof of concept (PoC) on the Canton Network (CC) for the service launch. The London Stock Exchange said, “(The PoC) was carried out across a range of assets and currencies using major commercial bank deposits,” explaining that “commercial bank deposits were tokenized on the Canton Network and used like cash in transactions.”

Daniel Maguire, head of LSEG’s Markets Group, said, “We have been able to introduce a tokenized solution on blockchain using cash in various currencies deposited at commercial banks,” adding, “With this service, users can reduce settlement risk and integrate existing cash, securities and digital assets across new and existing infrastructure.”