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KeyStone coordinates multilateral 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 - The pre-agreed terms reach KeyStone, either as two independently submitted sides that KeyStone pairs, or as one call carrying every party. On the paired route KeyStone compares the two sides on instrument, direction and quantity and refuses to proceed if they disagree. It does not bring together buying and selling interests: the counterparties selected each other upstream. KeyStone does not price, net, allocate, or take custody.
  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

Instruction confirmation across platforms.

Tokenised Repo

Two linked DvP settlements for repurchase agreements.