Solana Foundation Unveils DvP Settlement Program with J.P. Morgan Input
The Solana Foundation has introduced Solana DvP, an open-source settlement program aimed at financial institutions. Announced on October 6, 2026, the program is designed to facilitate the settlement of tokenized assets and payments on the Solana blockchain. The Foundation describes it as a reusable standard for delivery-versus-payment (DvP) settlement, ensuring that asset and payment transactions settle together atomically. This means transactions only complete when both sides meet the required conditions, potentially reducing settlement times from one to two days to just seconds.
Solana DvP supports both SPL Token and Token-2022 standards, including features like permanent delegates, pausable tokens, and transfer hooks. It allows two counterparties to conduct transactions with a settlement agent such as a bank, custodian, or exchange. J.P. Morgan provided input on institutional settlement practices and requirements during the program’s development, though the bank did not develop or operate the program. The program has undergone external security audits and is ready for use with real funds.
The Foundation is seeking design partners and early participants ahead of the production release. Future plans include adding privacy features to ensure institutional settlement transactions remain private and confidential. This launch follows J.P. Morgan’s earlier activity on Solana, including a $50 million U.S. commercial paper issuance for Galaxy Digital in December 2025, which also utilized DvP settlement.