Solana Foundation Launches Solana DvP, an Atomic Settlement Program Built for Financial Institutions

The Solana Foundation introduced Solana DvP, an open-source escrow program designed to provide financial institutions with an open API for delivery-versus-payment settlement on the Solana blockchain. Released under the MIT license, the program offers atomic settlement, isolated escrow, and enforced deadlines to meet institutional requirements for certainty and security. J.P. Morgan contributed input on institutional settlement practices to shape the program's development.

Solana DvP replaces bespoke smart contracts with a single standard for institutional trades, enabling atomic settlement where both asset and cash legs move simultaneously to eliminate counterparty risk. Traditional markets typically require multi-day processes involving clearinghouses and custodians, whereas Solana DvP aims to finalize transactions in seconds. The program supports SPL Token and Token-2022, including extensions such as permanent delegate and pausable tokens, which are critical for regulated issuers.

The program has undergone external security audits and is ready for use with real funds, with plans to introduce privacy features for confidential trade settlements. Solana Foundation is seeking design partners and early participants ahead of the production release. The open standard is intended for adoption by any two counterparties, including banks, custodians, or exchanges, with any settlement agent.

Solana operates as a high-performance, decentralized network supporting internet capital markets, payments, and crypto applications. The Solana Foundation, based in Zug, Switzerland, oversees the network's decentralization, growth, and security. J.P. Morgan's involvement was limited to providing input on securities settlement practices and does not imply endorsement or guarantee of Solana DvP.