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What is KeyStone?

KeyStone coordinates multilateral atomic settlement between institutions across platforms and chains. One integration, every counterparty. A settlement carries 1 to 50 parties and 1 to 50 obligations, with the exact party count set by its template rather than by the platform: a standard DvP names two, a tri-party repo names three. See Parties and legs for the limits and how a settlement is created. Trades are agreed upstream - on execution venues or directly between counterparties. The terms then reach KeyStone by one of two routes: each counterparty submits its own side and KeyStone pairs them, or one call carries every party and obligation at once. KeyStone runs compliance and creates the settlement on-chain. From there, smart contracts handle everything autonomously - deposits, atomic execution, and finalization. KeyStone compares the two submitted sides on instrument, direction and quantity, and refuses to create a settlement if they disagree. It does not bring together buying and selling interests: the counterparties have already selected each other and both present a shared trade reference before any comparison happens. KeyStone does not price, net, allocate, or take custody.
Status. KeyStone runs on public testnets only. There is no production deployment, and no settlement of anything of value has been performed. Every settlement to date has used test tokens with no value.

Quickstart

Get your first settlement running in minutes.

Core Concepts

Understand settlements, templates, and the state machine.

API Reference

Complete REST API documentation with interactive examples.

Smart Contracts

On-chain infrastructure for trustless settlement.

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How it works

1

Instruct

Both parties submit instructions for the pre-agreed trade via the REST API. KeyStone confirms the two sides agree and creates the settlement.
2

Comply

KeyStone screens parties off-chain (LSEG, CipherOwl) and attests results to the ComplianceRegistry on-chain. The contract enforces compliance.
3

Deposit

Parties deposit their assets directly to the escrow contract. KeyStone is not involved.
4

Settle

Contracts auto-execute the atomic settlement and finalize. Both platforms receive webhook notifications.

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Key capabilities

  • Autonomous post-compliance - After compliance clears, contracts handle deposits, execution, and finalization without KeyStone in the loop.
  • Cross-platform settlement - Platform A’s seller, Platform B’s buyer. One atomic settlement.
  • Cross-chain - Bond on one chain, cash on another. Assets never bridge: each leg is escrowed and paid out on its own chain, and the KeystoneRouter coordinates one release-or-abort decision across all of them.
  • No custody - There is no KeyStone-controlled withdrawal path; recipients and refunds are bound at registration and even the operator can only abort, which unlocks refunds to the depositors.
  • Depositor-driven timeout - The operator or any depositor can trigger timeout after the deadline, and the path cannot be paused. Funds are never locked.
  • Dual-layer compliance - Off-chain entity screening and on-chain wallet risk scoring, attested on-chain.
  • Full audit trail - Every state change is an on-chain event. Independently verifiable by any third party.