The Solana Foundation has released Solana DvP, an open-source delivery-versus-payment program that lets financial institutions settle trades on Solana’s public blockchain with finality in seconds, according to CoinDesk. JPMorgan provided input on institutional settlement requirements during development.
Delivery-versus-payment means the asset and the cash leg move in one atomic transaction: either both transfer or neither does. This removes the risk that one side delivers while the other defaults. In traditional securities markets, settlement typically takes one to two days. Until now, institutions settling on-chain have generally commissioned bespoke smart contracts for each deal. Solana DvP replaces those one-off builds with a shared escrow program and a standard API. The code is released under the MIT license, supports both the SPL Token and Token-2022 standards, and has passed external security audits. The foundation says it is ready to handle real funds.
JPMorgan’s role was advisory. The bank contributed securities-settlement expertise, including requirements around escrow, deadlines and regulated-token features, which often carry transfer restrictions that infrastructure must respect. Rhodel D’souza, head of markets digital assets at JPMorgan, called an open standard for atomic DvP “exactly the kind of foundational infrastructure” institutions need to operate at scale. Catherine Gu, head of product for digital assets at the Solana Foundation, framed it as a single standard across the ecosystem built on public infrastructure.
The launch adds to existing institutional activity on the network, including a commercial paper issuance for Galaxy Digital that settled in USDC. It also enters a crowded field. JPMorgan’s own Kinexys platform has piloted cross-chain DvP with Ondo Finance, and ClearToken introduced a permissioned version on Canton Network. Solana is positioning its program as an open, permissionless alternative that any firm can inspect and adapt without licensing fees.
The foundation plans to add privacy features, a common requirement for institutional desks reluctant to expose positions on a public ledger. SOL traded near $120 on Tuesday.
Adoption, not the code itself, will determine the impact. The program’s value depends on how many issuers and custodians standardize on it instead of building proprietary rails.
