London Stock Exchange Group (LSEG) has introduced a digital payment service (DiSH) that converts commercial bank funds to a blockchain network, Cointelegraph reported on Wednesday.
DiSH supports real-time payments by using DiSH Cash, which tokenises commercial bank deposits, to connect blockchain and traditional payment networks. DiSH Cash is based on actual bank deposits rather than a stablecoin and serves as “real cash” in foreign exchange and digital asset transactions, Cointelegraph said.
LSEG expects DiSH to resolve delays in existing payment systems, reduce settlement risk and increase the efficiency of collateral use. A pilot project conducted earlier with Digital Asset and major financial institutions used DiSH to handle transactions across various assets and currencies.
Chi-gyu Hwang
delight@d-today.co.kr