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

According to Decrypt, the Solana Foundation announced the launch of the open-source custody program Solana DvP, providing standardized delivery versus payment (DvP) settlement APIs for financial institutions, released under the MIT license, with input from JPMorgan on the design of institutional settlement practices.

The program aims to introduce settlement assurance into public chain infrastructure as a reusable standard, replacing the customized smart contracts previously relied upon by institutional trading.

Solana DvP compresses the process that traditionally takes days to complete through clearinghouses, custodians, and custodians 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 relied upon by regulated issuers, 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 to achieve 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.