Solana team unveiled an open-source technical solution for DvP settlement. Designed for banks, custodians, exchanges, and other financial market participants, the solution enables asset transfers and payments to take place within a single atomic transaction on the Solana blockchain, with final settlement completed in seconds.
Solana Foundation announced the launch of Solana DvP, a standardized settlement mechanism for financial institutions. The program provides an open interface for delivery-versus-payment (DvP) transactions, in which the transfer of a financial asset occurs simultaneously with payment. During the development of the solution, the foundation consulted J.P. Morgan specialists, who provided guidance on institutional settlement requirements and practices.
Solana DvP is distributed under the MIT License, which allows the software to be freely used, modified, and distributed, including for commercial purposes. The solution’s source code is publicly available.
The technology is intended to replace custom smart contracts, which have often been required to settle institutional transactions on public blockchain networks. Instead of separate solutions for each transaction, market participants get a single, open mechanism within the Solana ecosystem.
A key feature of Solana DvP is the principle of atomic execution, under which the asset and funds are transferred simultaneously. If one part of the transaction can’t be completed, the other doesn’t take place either. This approach eliminates the risk of one party transferring assets while the corresponding obligation remains unfulfilled.
By comparison, settlement of securities transactions in traditional financial markets can involve a chain of clearing organizations, depositories, and custodians, while capital remains tied up in the process for 1 to 2 days. The Solana Foundation expects to reduce this cycle to a single transaction with near-instant final settlement.
Solana DvP includes several capabilities designed to meet the requirements of financial institutions:
- support for the SPL Token and Token-2022 standards;
- segregated escrow of assets until transaction conditions are met;
- mandatory transaction deadlines;
- support for permanent delegation, token operation freezes, and additional transfer rules;
- the ability to settle transactions between any 2 counterparties using a bank, custodian, or exchange as the settlement agent.
According to Katherine Gu, Head of Digital Assets at the Solana Foundation, atomic settlement eliminates the counterparty risk associated with traditional financial transactions. She said the new mechanism gives institutions a single, open standard for operating within the Solana ecosystem and reduces final settlement time from several days to seconds.
According to Rodel D’Souza, Head of Markets Digital Assets at J.P. Morgan, a single, open standard for atomic DvP settlement provides the core infrastructure institutional participants need to operate at scale without additional settlement and counterparty risks.
Solana Foundation said Solana DvP had already undergone external security reviews and was ready for transactions involving real funds. As a next step, developers intend to add privacy mechanisms that would allow transaction settlement details to be hidden from other participants on the public network.
Ahead of a full production launch, the Solana Foundation is inviting financial institutions and technology partners to participate in testing and further development of the standard.
In March 2026, the Solana Foundation launched the Solana Developer Platform (SDP), an infrastructure platform that enables the development of institutional-grade blockchain-based financial services through a unified set of APIs.
