Solana The foundation has launched Solana DvP, which is an open-source program for securities settlement ( delivery-versus-payment ), aimed at providing financial institutions with a standard way to settle assets and make payments on the blockchain.
DvP is the foundation of securities settlement, as it simultaneously transfers assets and their corresponding payments. The goal of Solana DvP is to execute these two steps within a single atomic transaction, which means that either the entire transaction is settled, or no transfer occurs for either party.
This may reduce settlement risks and capital constraints associated with traditional markets. In traditional markets, clearing institutions, custodian organizations, trustees, and other intermediaries may take 1 to 2 days to process transactions. Solana DvP aims to compress this process to just a few seconds.
Solana, the person in charge of the foundation's digital asset products, stated: "Atomic settlement eliminates the inherent counterparty risk found in traditional finance." Solana DvP The program provides institutions with an open standard that covers the entire Solana ecosystem, running on public infrastructure, and reduces the settlement time from several days to just a few seconds.
Unified standards for institutions
So far, when institutions settle transactions on the blockchain, they usually rely on smart contracts customized for a single use case. Solana DvP introduces a shared standard that counterparties can adopt throughout the entire Solana ecosystem.
The program uses isolated hosting, enforces a strict settlement deadline, and supports SPL Token and Token-2022 assets. It also includes extended features such as Token-2022 that may be required by regulated issuers, such as the ability to pause tokens, permanent agents, and transfer hooks.
This design also allows counterparties to collaborate with any settlement agents, including banks, custodian institutions, and exchanges.
The Solana Foundation released this program under a MIT license, making it an open-source project that can be used without permission and further developed upon that basis by others.
JPMorgan provides professional settlement advice
During the development process, JPMorgan Chase provided opinions on securities settlement practices and institutional needs.
These opinions helped shape the requirements regarding hosting isolation, settlement cut-off times, and token extension features used by regulated issuers. The project combines these settlement-related inputs with the infrastructure of Solana.
Rhodel D, the head of digital assets at JPMorgan Chase Markets, stated: "A shared, open, and atomized collateral standard is precisely the infrastructure that institutional market participants need to achieve scaled operations without introducing settlement risks and counterparty exposures. We are delighted to contribute our expertise in settlement."
DvP connects to the Solana developer platform
Institutions can access DvP through the Markets module of the Solana Developer Platform (developers' platforms: SDP, Solana). This platform integrates issuance, payment, and marketing modules to support enterprises in building financial products on Solana.
In March of this year, the foundation launched SDP as part of a broader effort to simplify compliant and scalable financial application development.
Therefore, DvP is also part of a larger initiative aimed at providing institutions with the infrastructure necessary for asset creation, capital flow, and settlement.
Can be used with real funds.
Solana The foundation stated that Solana DvP has completed an external security audit and can now be used for real funds.
The foundation also plans to add privacy features, allowing institutions to maintain the advantages of atomic settlements while keeping the details of those settlements confidential.
Currently, the foundation is seeking design partners and early participants before the official production and release. Ultimately, the goal of Solana DvP is to provide a common settlement pathway for institutions in the on-chain market, while reducing the time costs and counterparty risk exposure associated with the separate transfer of assets and payments.
