Solana Launches Institutional Settlement Standard with J.P. Morgan Input

The Solana Foundation has launched an open-source program called Solana DvP, enabling banks to settle trades on its network with the reliability expected in traditional markets. Announced on Monday, Solana DvP provides a standardized API for delivery-versus-payment settlement, ensuring simultaneous exchange of assets and payments. Released under the MIT license, it aims to establish a reusable standard for public blockchain infrastructure, moving away from bespoke smart contracts used in institutional trades. J.P. Morgan contributed insights on institutional settlement practices for the program's design. Catherine Gu, head of product for digital assets at the foundation, stated that atomic settlement eliminates counterparty risk and offers institutions a single open standard with finality in seconds. Rhodel D'souza, J.P. Morgan's head of markets digital assets, emphasized the need for a shared standard for atomic delivery-versus-payment in institutional markets. Unlike conventional markets that involve multi-day processes, Solana DvP facilitates a single atomic transaction for settlements. The program supports SPL Token and Token-2022, including features like permanent delegate and pausable tokens, and has passed external security audits. The foundation plans to add privacy features for confidential settlements. This launch aligns with Solana's increasing appeal among institutions interested in tokenized real-world assets.

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