To eliminate principal and settlement risks across financial markets, central banks require platforms to operate specialized Payment-versus-Payment (PvP) and Delivery-versus-Payment (DvP) settlement models.
The Interlocked Settlement Channels
[PvP Currency Hub] ---> Verifies both foreign legs match ---> Executes simultaneous reserve swap
[DvP Securities Hub] -> Verifies cash and stock assets match -> Executes simultaneous asset transfer

These interlocking mechanisms link transaction legs within a single cryptographic or central bank platform, ensuring a transfer occurs if and only if the opposing exchange is finalized simultaneously.

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