The Solana Foundation launched Solana DvP, with JPMorgan participating in the design

The Solana Foundation announced the launch of the open-source custody program Solana DvP, providing financial institutions with a standardized Delivery versus Payment (DvP) settlement API, released under the MIT license. JPMorgan participated in the design input for institutional settlement practices. This program aims to introduce settlement assurance into public chain infrastructure as a reusable standard, replacing the customized smart contracts previously relied upon for institutional trading.

Solana DvP compresses the process that traditionally takes days to complete through clearinghouses, custodians, and trustees into a single atomic transaction, where assets and payments are settled simultaneously or not at all. The program supports SPL Tokens and Token-2022, covering extended features such as permanent delegation, pauseable tokens, and transfer hooks that regulated issuers rely on, and has passed external security audits. The foundation stated plans to add privacy features in the future to keep settlement information confidential.

Catherine Gu, head of digital asset products at the Solana Foundation, stated that atomic settlement eliminates the counterparty risk inherent in traditional finance, providing institutions with a single open standard that achieves finality in seconds rather than days. Rhodel D'souza, head of market digital assets at JPMorgan, said that the shared atomic Delivery versus Payment open standard is exactly the infrastructure needed by institutional market participants. This release builds on Solana's rising institutional appeal in the tokenized asset space, with BlackRock launching a tokenized money market fund in August and Kraken offering tokenized U.S. stocks to overseas clients through its xStocks product on Solana.