- Solana Foundation launched an open-source DvP program for financial institutions.
- J.P. Morgan provided input on institutional settlement practices and requirements.
The Solana Foundation has launched Solana DvP, an open-source settlement program designed to help financial institutions settle tokenized assets and payments on the Solana blockchain. The Foundation announced the program on October 6, 2026, describing it as a “reusable” standard for delivery-versus-payment settlement.
Solana DvP is built around atomic settlement, meaning the asset and payment sides of a transaction settle together. If the conditions for both sides are not met, the transaction does not complete. The Foundation said this can provide finality in seconds instead of the one to two days often associated with traditional settlement processes involving clearinghouses, depositories and custodians.
The program is released under the MIT open-source license and uses isolated escrow accounts with settlement deadlines. Solana said institutional trades conducted on-chain have typically relied on individual, custom-built smart contracts. DvP is intended to provide one standard settlement rail instead.
Solana DvP Supports Institutional Tokenized Assets
The program supports both SPL Token and Token-2022, including token features such as permanent delegates, pausable tokens and transfer hooks. Two counterparties can use Solana DvP with a settlement agent such as a bank, custodian or exchange.
J.P. Morgan contributed input on institutional settlement practices and requirements during the program’s development. Rhodel D’souza, the bank’s Head of Markets Digital Assets, said the bank contributed its settlement expertise. The announcement confirms that J.P. Morgan did not develop or operate Solana DvP.
Meanwhile, Solana DvP has undergone external security audits and is available for use with real funds. The blockchain also plans to add privacy features so institutional settlement transactions can be made private and confidential. The Foundation is currently seeking design partners and early participants ahead of the production release.
This is nothing new. The launch follows J.P. Morgan’s earlier activity on Solana. In December 2025, the bank arranged a $50 million U.S. commercial paper issuance for Galaxy Digital on the blockchain and facilitated delivery-versus-payment settlement for the transaction.
