Image Credit: Shutterstock
- The Solana Foundation has launched Solana DvP, an open-source settlement program allowing financial institutions to exchange tokenized assets and payment instantly.
- J.P. Morgan provided institutional settlement input and requirements to the Solana Foundation during the program's development.
- The audited code is ready for real-fund integrations, though the Foundation is still seeking design partners ahead of a broader production release.
The Solana Foundation has launched Solana DvP, an open-source settlement program designed to let financial institutions exchange tokenized assets and payment in a single transaction on Solana.
The system targets securities settlement that can take one to two days through traditional market infrastructure. Solana says DvP can reduce finality to seconds while giving institutions a reusable settlement framework instead of requiring a custom smart contract for each transaction.
DvP Settles Tokenized Assets and Payment in One Transaction
Delivery-versus-payment links the transfer of an asset to its corresponding payment. Under Solana DvP, both legs settle atomically, meaning the entire transaction completes, or neither side transfers its assets.
The program also uses isolated escrow and transaction deadlines. Two counterparties can settle through an agent such as a bank, custodian, or exchange. Solana DvP supports SPL Token and Token-2022 assets, including token features commonly used by regulated issuers.
J.P. Morgan Provided Institutional Settlement Input
J.P. Morgan provided the Solana Foundation with input on institutional settlement practices and requirements while the program was being developed. Its stated role was limited to contributing settlement expertise rather than building the DvP program.
The collaboration gave the Foundation institutional feedback as it designed the settlement process for banks, custodians, exchanges, and and other financial firms.
Audited DvP Code is Ready for Real-Fund Integrations
The Solana Foundation says DvP has undergone external security audits and is ready for use with real funds. The code is available under an MIT license, allowing institutions and developers to integrate or extend it. However, the Foundation is still seeking design partners and early participants ahead of a broader production release.
Solana has not named an institution already using DvP for live securities settlement or published transaction data demonstrating seconds-level settlement across institutional trades. Privacy is also not included in the initial version. The Foundation plans to add confidential settlement capabilities in future releases.
The next stage will depend on banks, custodians, and exchanges integrating the standard into their existing compliance, custody, and trading systems.
