Payments Canada, in partnership with the Bank of Canada and TMX Group, spearheaded Project Jasper, a cutting-edge initiative exploring distributed ledger technology (DLT) for payment and securities settlement. In Phase III, the project introduced an integrated DLT-based platform for real-time gross settlement (RTGS), expanding its scope to include the simultaneous settlement of securities and payments (Delivery vs. Payment). This research highlights the potential of blockchain technology to enhance efficiency, security, and transparency in financial markets, offering groundbreaking solutions for modernizing payment systems.