The Solana Foundation has launched Solana DvP, an open-source escrow program that lets financial institutions settle tokenized assets and payment in a single atomic transaction on Solana. Announced in New York on Monday, October 5, the program is released under the MIT license and was built with input from J.P. Morgan on institutional settlement practices and requirements.
Delivery-versus-payment is the bedrock of securities settlement: the asset and cash move simultaneously, removing the risk that one leg completes while the other fails. Traditional markets reach that outcome through a multi-day chain of clearinghouses, depositories, and custodians that ties up capital for one to two days. The foundation’s announcement positions Solana DvP as a way to compress that process into one transaction, with finality in seconds instead of days.
How Solana DvP works
Solana DvP supports SPL Token and Token-2022, including the extensions regulated issuers rely on such as permanent delegate, pausable tokens, and transfer hooks. Any two counterparties can use the program with any settlement agent, whether a bank, a custodian, or an exchange. The Solana Foundation said the code has passed external security audits and is ready for use with real funds, and that it plans to add privacy features so settlements can remain confidential.
J.P. Morgan’s role
J.P. Morgan contributed input on settlement practices, but the bank did not design, operate, or endorse the program. A disclaimer in the announcement states its involvement was limited to advice and should not be read as approval or certification. “A shared, open standard for atomic delivery-versus-payment is exactly the kind of foundational infrastructure institutional market participants require,” said Rhodel D’souza, Head of Markets Digital Assets at J.P. Morgan. Catherine Gu, Head of Product, Digital Assets at the Solana Foundation, said atomic settlement “removes counterparty risk that is inherent in traditional finance.”
Why it matters
Until now, institutional trades settling onchain have typically relied on bespoke smart contracts. Solana DvP replaces that with one reusable standard rail, building on Solana’s recent Alpenglow upgrade to public testnet. The foundation is positioning the network for tokenized real-world assets, where a shared settlement standard could lower the barrier for banks and asset managers to enter. What remains unproven is adoption: the foundation is still inviting design partners and early participants ahead of a full production release, and no major bank has yet committed to settling live trades through the program.
