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KeyStone coordinates bilateral atomic settlement between institutions on different platforms and chains using on-chain smart contracts.

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The settlement lifecycle

Every settlement follows this pattern:
  1. Instruct - Both counterparties submit instructions via the API. KeyStone matches them and creates a settlement on-chain.
  2. Comply - KeyStone screens parties off-chain (LSEG, CipherOwl) and attests results to the ComplianceRegistry on-chain.
  3. Deposit - Parties deposit their assets directly to the escrow contract. KeyStone is not involved.
  4. Execute - The last deposit executes the settlement inline once the compliance gate passes: the KeystoneSettlement contract pays every leg to its recipient bound at registration, all-or-nothing. Fully autonomous - KeyStone sends no transaction.
  5. Finalize - Assets are delivered to counterparties. Both platforms receive confirmation via webhooks.
After compliance clears, the contracts are autonomous. KeyStone’s only remaining role is monitoring events and dispatching webhooks - a convenience, not a requirement.

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Building blocks

Settlements

The core transaction object, registered on-chain on the KeystoneSettlement contract.

Templates

Reusable workflow definitions that control the state machine.

State Machine

Contract-enforced transitions with compliance and deposit gates.

Parties and Legs

Who is involved and what obligations they have.

Compliance

Off-chain screening, on-chain attestation, contract-enforced gate.

Cross-Platform

Bilateral instruction matching across platforms.

Tokenised Repo

Two linked DvP settlements for repurchase agreements.