Solana Foundation Launches DvP for Near-Instant Settlements
The Solana Foundation unveiled Solana DvP, an open-source settlement program designed to drastically reduce financial transaction times. The program, which targets financial institutions, provides an API for delivery-versus-payment (DvP) settlements on the Solana blockchain. By bundling asset transfers and payments into a single atomic transaction, Solana DvP aims to cut securities settlement times from days to mere seconds.
The initiative seeks to replace custom smart contracts with a reusable solution, addressing the need for foundational infrastructure in institutional markets. Rhodel D’Souza, head of markets digital assets at JPMorgan, emphasized that the settlement standard helps institutions operate at scale while minimizing settlement risk and counterparty exposure. JPMorgan contributed insights on institutional settlement practices during the development of Solana DvP.
This launch aligns with broader industry efforts to accelerate financial settlements using blockchain technology. Earlier in June 2025, Chainlink, JPMorgan’s Kinexys, and Ondo Finance completed a cross-chain DvP pilot involving Ondo’s tokenized US Treasury fund and payments through Kinexys. Additionally, Payward, the parent company of Kraken, recently partnered with Singapore Gulf Bank to enable 24/7 USD settlements for institutional clients in Asia and the Gulf region.