TL;DR
- The Solana Foundation launched Solana DvP, an open-source settlement program that reduces settlement times from days to seconds.
- JPMorgan contributed decades of settlement expertise to define technical requirements such as timing, custody isolation, and regulated token extensions.
- The program has already undergone external security audits and includes privacy features designed to enable confidential settlements.
The Solana Foundation launched Solana DvP, an open-source program designed to enable financial institutions to settle transactions on its blockchain within seconds. The project was developed with the collaboration of JPMorgan, which contributed decades of experience in institutional settlement practices to help shape the initiative.
In traditional markets, assets and money are transferred through clearinghouses and custodians over one or two days, tying up capital and exposing parties to counterparty risk. The DvP system compresses this process into a single atomic transaction: both legs of the trade execute together or neither takes effect, eliminating the possibility of one party defaulting after receiving the asset or cash.
Solana DvP: An Open Standard for Institutional Settlement
The program offers an open-source application programming interface that replaces the customized and fragmented smart contracts that institutions previously had to commission separately for each transaction. Catherine Gu, Head of Digital Assets Product at the foundation, said in a statement that the program “provides institutions with a single open standard across the Solana ecosystem, on public infrastructure, with finality in seconds instead of days.”
JPMorgan’s involvement was crucial. The bank provided input on timing, custody isolation, and token extensions required by regulated issuers, such as pausable tokens and transfer hooks under Token-2022, the network’s updated token standard. Rhodel D’Souza, Head of Digital Assets for Markets at JPMorgan, described the shared standard as the kind of “foundational infrastructure” institutional clients need to operate at scale.
Blockchain-Powered Institutional Finance
This new product joins a series of initiatives across the sector. In June 2025, Chainlink, JPMorgan’s Kinexys, and Ondo Finance completed a cross-chain DvP pilot involving Ondo’s tokenized U.S. Treasury fund. Solana, meanwhile, has already participated in institutional tokenization transactions, including a commercial paper transaction arranged by JPMorgan for Galaxy Digital and settled in USDC.
The program has passed external security audits and is ready to operate with real funds. The foundation also announced that it plans to add privacy features so settlements can be confidential, a requirement institutions have highlighted as key to the mass adoption of blockchain technology.
