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Solana Debuts Institutional Settlement Standard With J.P. Morgan Input
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The Solana Foundation has launched Solana DvP, an open-source escrow program that gives financial institutions a standardized API for delivery-versus-payment settlement. Announced Monday, it was released under the permissive MIT license, with input from J.P. Morgan shaping its design. It marks a direct bid for institutional finance on the network. The foundation casts it as a reusable public standard rather than the bespoke smart contracts institutional trades have typically relied on.
Delivery-versus-payment is the bedrock mechanism ensuring an asset and its payment change hands simultaneously. In conventional markets it runs through a multi-day chain of clearinghouses, depositories and custodians, tying up capital for a day or two. Solana DvP compresses that into a single atomic transaction where both legs settle together or neither does.
The program supports SPL Token and Token-2022, including extensions regulated issuers depend on such as permanent delegate, pausable tokens and transfer hooks. It has undergone external security audits, and the foundation plans to add privacy features so settlements can be kept confidential.
Catherine Gu, the foundation's head of product for digital assets, said atomic settlement removes counterparty risk that is inherent in traditional finance. She said the program offers institutions a single open standard "with finality in seconds instead of days."
Rhodel D'souza, J.P. Morgan's head of markets digital assets, said a shared, open standard for atomic delivery-versus-payment is "exactly the kind of foundational infrastructure institutional market participants require."
The launch builds on Solana's growing pull among institutions chasing tokenized real-world assets. BlackRock launched a tokenized money market fund in August recording ownership on Solana alongside Ethereum, structured to qualify as a reserve asset under the GENIUS Act. Kraken likewise uses Solana to offer tokenized U.S. stocks to overseas customers through its xStocks product.
Solana has emerged as a leading venue for tokenized equities, and infrastructure like DvP aims to deepen that lead by giving regulated players a trusted way to settle on-chain. Planned privacy features should widen its appeal further.
