- Solana Foundation has rolled out an open-source delivery-versus-payment (DvP) program tailored for financial institutions.
- J.P. Morgan offered guidance regarding institutional requirements and settlement practices.
The Solana Foundation rolled out Solana DvP on October 6, 2026, presenting it as a reusable delivery-versus-payment framework meant to assist financial institutions in settling tokenized payments and assets on the Solana network.
Designed around atomic settlement, Solana DvP ensures that both the payment and the asset components of a transaction settle simultaneously. The transaction fails to execute if the requirements for both legs are unmet. According to the Foundation, this mechanism delivers finality within seconds, contrasting sharply with traditional clearinghouse, custodian, and depository workflows that typically require 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 on-chain institutional trades have historically depended on bespoke, custom-built smart contracts, the DvP initiative aims to replace them with a unified settlement rail.
Solana DvP Supports Institutional Tokenized Assets
The framework accommodates both Token-2022 and SPL Token standards, incorporating native capabilities such as transfer hooks, pausable tokens, and permanent delegates. Through Solana DvP, two counterparties can execute transactions alongside a designated settlement agent, such as an exchange, bank, or custodian.
Throughout the development phase, J.P. Morgan shared perspective on institutional settlement standards and protocols. Rhodel D’souza, who serves as the bank’s Head of Markets Digital Assets, stated that the firm lent its industry expertise. The disclosure explicitly clarifies that J.P. Morgan neither built nor runs Solana DvP.
Furthermore, Solana DvP has completed external security reviews and is currently ready for live capital deployment. Future upgrades will introduce privacy enhancements to enable confidential and private institutional settlement transactions. Ahead of its official production rollout, the Foundation is actively looking for early participants and design partners.
This initiative builds upon previous collaboration between J.P. Morgan and Solana. Back in December 2025, the financial institution organized a $50 million U.S. commercial paper issuance on the blockchain for Galaxy Digital, while also supporting the transaction’s delivery-versus-payment settlement.
Frequently Asked Questions
What is Solana DvP?
Solana DvP is an open-source, reusable delivery-versus-payment settlement framework created by the Solana Foundation to help financial institutions settle tokenized assets and payments on the blockchain.
How does atomic settlement work in this program?
Atomic settlement ensures that both the asset and payment sides of a transaction execute at the same time. If conditions for both sides are not satisfied, the transaction is canceled entirely.
What was J.P. Morgan’s role in the project?
J.P. Morgan provided input and shared expertise on institutional settlement practices and requirements during development, though the bank did not create or operate the program.
Is Solana DvP ready for live funds?
Yes, the program has undergone external security audits and is available for use with real funds, with upcoming plans to add privacy features for confidential transactions.
