Solana Releases DvP Settlement Program With J.P. Morgan Input

Solana Foundation has released an open-source program for institutional trade settlement, with input from J.P. Morgan, aiming to let an asset and its payment change hands together on the Solana network. The Foundation’s announcement says the program, called Solana DvP, offers a shared tool for trades that have often relied on custom-built contracts.

DvP means “delivery versus payment”: the asset moves only when the payment does, or neither moves. The Foundation says this can settle both sides in one transaction, with finality in seconds rather than the one or two days that traditional settlement can tie up capital. That matters to institutions because it is designed to reduce the risk that one side delivers while the other fails to pay.

How does Solana DvP handle a trade?

Solana DvP uses an escrow program, which holds assets under agreed conditions, and an API that institutions can connect to. The program also enforces deadlines, according to the Foundation. Any two counterparties can use it with a settlement agent such as a bank, custodian or exchange.

The program supports Solana’s SPL Token and Token-2022 formats. It also supports features used by regulated issuers, including the ability to pause tokens and restrict transfers. The Foundation says the code is released under the MIT license and has passed external security audits. It is inviting design partners and early participants ahead of a production release.

What role did J.P. Morgan play?

J.P. Morgan provided input on institutional settlement practices and requirements, the Foundation said. Decrypt’s report on the launch also describes the program as a shared standard for institutions, rather than separate custom contracts for each trade.

The bank’s contribution has limits. Solana Foundation says J.P. Morgan’s involvement was limited to settlement-practice input. It did not design, build, operate, approve or endorse the program. That distinction matters: the launch brings a proposed common settlement tool to Solana, but does not establish that J.P. Morgan or other institutions are using it in production.

What comes next for the program?

The Foundation says it plans to add privacy features so trade settlements can be kept confidential. For now, its announcement focuses on the settlement mechanism and the types of tokens it supports. Wider use will depend on institutions choosing to adopt the program and integrate it into their own trading and custody systems.

Sources

• Foundation’s announcement — solana.com
• report on the launch — decrypt.co