Solana Foundation Launches Institutional-Grade Settlement Standard Solana DvP with Design Input from JPMorgan Chase

According to TheStreet, the Solana Foundation has announced the launch of Solana DvP (Delivery-versus-Payment), an open-source delivery-versus-payment settlement program designed for institutions, aimed at helping financial institutions achieve synchronous settlement of assets and funds on the Solana blockchain. JPMorgan provided relevant guidance on institutional settlement needs during the project's development. The Solana Foundation stated that Solana DvP is based on DvP settlement principles from traditional financial markets, where asset delivery and payment occur simultaneously to mitigate counterparty risk arising from scenarios where one party completes payment while the other fails to deliver assets. While traditional markets typically require processes through clearinghouses and custodians and take one to two business days to settle, Solana DvP enables synchronous transfer of assets and funds through a single atomic transaction, completing settlement within seconds. Previously, institutional on-chain settlement typically required custom smart contracts for each transaction, whereas Solana DvP provides a unified standard, operates under an MIT open-source license, and allows institutions to use and build upon it without authorization fees.