Solana and JPMorgan Speed Up Institutional Crypto Settlements to Seconds

The Solana Foundation has introduced the Solana DvP program, a new initiative developed with expertise from JPMorgan. This program offers shared infrastructure that allows institutions to complete asset delivery and payment in seconds, a significant improvement over the traditional days-long process.

The open-source Solana DvP, launched on October 6, is designed to settle institutional transactions in a single on-chain transaction. This model, known as "delivery versus payment," ensures that both the asset and payment are completed together, eliminating settlement risks where one party might fail to meet their obligations.

JPMorgan played a crucial role in shaping the project by contributing its settlement expertise. The bank provided insights on transaction deadlines, asset segregation in custody, and token features used by regulated issuers. The program also includes mechanisms to halt transfers when necessary, aligning traditional financial controls with on-chain settlement infrastructure.

According to the Solana Foundation, the program has undergone independent security audits and is now ready for use with real funds. Future updates will include features to enhance transaction privacy. The initiative builds on previous institutional pilots, such as the Galaxy Digital commercial paper transaction settled in USDC, aiming to simplify similar transactions without requiring custom infrastructure.