- Solana Foundation has rolled out an open-source delivery-versus-payment (DvP) program tailored for financial institutions.
- J.P. Morgan offered guidance regarding institutional settlement practices and requirements.
The Solana Foundation rolled out Solana DvP, an open-source settlement initiative meant to assist financial institutions in settling tokenized assets and payments directly on the Solana blockchain. Unveiled on October 6, 2026, the Foundation characterized the project as a reusable framework for delivery-versus-payment settlement.
Operating on atomic settlement principles, Solana DvP ensures that both the asset and payment components of a transaction clear simultaneously. Should either side fail to meet the required conditions, the entire transaction is canceled. According to the Foundation, this mechanism delivers finality within seconds, contrasting sharply with conventional settlement methods involving clearinghouses, depositories, and custodians that typically span one to two days.
Distributed under the MIT open-source license, the program utilizes isolated escrow accounts paired with strict settlement deadlines. Solana noted that while institutional on-chain trades have historically depended on bespoke, custom-built smart contracts, the DvP program aims to establish a unified standard settlement rail.
Solana DvP Supports Institutional Tokenized Assets
The software accommodates both SPL Token and Token-2022 standards, incorporating advanced token functionalities like transfer hooks, pausable tokens, and permanent delegates. Through Solana DvP, two counterparties can execute trades alongside a designated settlement agent, such as an exchange, custodian, or bank.
Throughout the creation of the program, J.P. Morgan provided feedback centered on institutional settlement requirements and practices. Rhodel D’souza, who serves as the bank’s Head of Markets Digital Assets, stated that the institution shared its domain expertise in settlement. However, the announcement clarified that J.P. Morgan neither built nor operates Solana DvP.
In addition, Solana DvP has completed external security reviews and is currently ready for live funds. Future plans for the network include introducing privacy capabilities to allow confidential institutional settlement transactions. Ahead of its production rollout, the Foundation is actively looking for early participants and design partners.
This rollout builds upon prior collaboration between J.P. Morgan and the Solana network. Back in December 2025, the financial institution organized a $50 million U.S. commercial paper issuance on behalf of Galaxy Digital using the blockchain, while also managing the delivery-versus-payment settlement for that specific trade.
Frequently Asked Questions
What is Solana DvP?
Solana DvP is an open-source delivery-versus-payment settlement program launched by the Solana Foundation to help financial institutions settle tokenized assets and payments on the Solana blockchain within seconds.
What role did J.P. Morgan play in the program?
J.P. Morgan shared its settlement expertise by providing input on institutional settlement practices and requirements during development, though the bank did not build or operate the program.
How does atomic settlement work in Solana DvP?
Atomic settlement means the asset and payment sides of a trade settle together. If conditions for both sides are unmet, the transaction fails to complete.
What license does Solana DvP use?
The program is released under the MIT open-source license and relies on isolated escrow accounts with designated settlement deadlines.
