Both legs of the trade settle at the same time (PvP), fiat never leaves the country, and the rate is agreed by the parties themselves — without SWIFT and without a central counterparty.
A significant share of cross-border FX flows is not covered by existing settlement infrastructure.
Traditional CLS settles a limited set of currencies. The ruble, yuan, rupee, dirham, lira and many other pairs fall outside its perimeter.
For a meaningful share of flows, access to the usual clearing rail is closed or unpredictable. Contract settlement fails for non-economic reasons.
The company is left choosing between a closed channel and an opaque over-the-counter exchange with high risk and fees.
The same Payment-versus-Payment settlement model — but for currencies and corridors outside traditional CLS.
Centralized infrastructure with a fixed set of currencies and participants.
✓
Limited set of currencies
✓
Access limited to member banks
✓
Fixed settlement window
✓
Closed reporting for participants
PvP settlement with no central counterparty — for currencies and corridors outside traditional CLS.
✓
Currencies and corridors outside traditional CLS
✓
Access for any participant after KYB
✓
Configurable netting window, 24/7
✓
On-chain audit trail verifiable by a third party
From bilateral agreement to atomic settlement — four steps.
Several corridors at once create offsetting flows — the basis for multi-currency netting.
RUB_T <-> AED_T
The dirham is pegged to the dollar and the UAE is a major re-export hub. A fund-issued settlement token in the UAE; fiat stays in the country.
RUB_T <-> CNY_T
Settled via offshore CNH (Hong Kong). Direct minting in mainland China is not offered.
RUB_T <-> TRY_T
Türkiye provides an offsetting flow for netting commodity and food contracts.
Four participant types — four entry paths. Pick yours and jump to the relevant section.
Become the settlement node for your currency (Licensed Minter): handle deposit/withdrawal and earn a share of FX fees without building your own netting engine.
Become a Licensed Minter →Plug FX settlement in via API: deterministic netting and atomic execution instead of manual processes.
How it works →dCLS acts as a technology provider: the licensed activity and regulatory responsibility stay with the resident partner.
Partnership model →Settle foreign-trade contracts with transparent positions and predictable execution — without the grey OTC market.
Discuss your case →Fiat never leaves the country. Each currency is backed by real funds held in a local jurisdiction.
A jurisdictional fund accepts fiat and issues settlement tokens backed 1:1 by fiat. Each token is redeemable at par in the fund’s currency. Participation terms are set during KYB onboarding.
Rubles in a Russian, Kyrgyz, or Belarusian bank. Dirhams — in the UAE. Francs — in WAEMU. Fiat never crosses a border within dCLS.
Technically, FiatToken is a settlement token backed 1:1 by fiat and redeemable at par on a KYB/B2B basis. Its legal qualification depends on the fund’s jurisdiction and is determined at onboarding.
This material is for information only and is not legal or investment advice. The instrument’s qualification is determined by the applicable law of the fund’s jurisdiction.
dCLS reduces operational risk, lowers costs, and eliminates counterparty dependency.
Multilateral netting eliminates redundant offsetting flows: only net positions are settled, not every individual trade.
dCLS does not set rates and is not an exchange. Only matching and atomic settlement — just like traditional CLS.
Heth settlements are permanently recorded on Ethereum L1. Auditable by any third party.
RUB_T, BYN_T, CNY_T, AED_T, TRY_T — backed by jurisdictional funds. The catalog covers 40+ jurisdictional currencies (INR_T, BRL_T, ZAR_T, XOF_T, XAF_T and more), available to issue via FiatTokenFactory.
Real-time net position dashboard. Know your exposure before the settlement window closes.
Daily audit of jurisdictional fund balances. On-chain invariant: totalSupply ≤ confirmed fund balance.
4 hours (configurable)
Bilateral — rate agreed off-system, like CLS
Ledger (off-chain) · on-chain Ethereum L1
RUB_T · BYN_T · CNY_T · AED_T · TRY_T · INR_T · BRL_T · ZAR_T · XOF_T · XAF_T — and 30+ more currencies via FiatTokenFactory
By arrangement · B2B only
Fiat-backed settlement token · qualification by fund jurisdiction
Upgradeable smart contracts · public on-chain verification
For all participants and funds
Choose the path that fits your role. KYB verification takes 2–5 business days; terms are set during onboarding.
Contacts: compliance@heth.me · contact@4pay.online
dCLS is a cross-project settlement module of the 4pay.online platform. ZolT contracts, the Surelle backend, the Admin Area sections and the HethWallet client work as a single system.
700+
integrations
40+
currencies
170+
countries
99.95%
availability SLA