Solana Launches Open-Source Tool for Instant Institutional Asset Settlement

The Solana Foundation has launched an open-source settlement program called Solana DvP, designed to enable financial institutions to exchange tokenized assets and payments in a single atomic transaction. The program claims to reduce settlement times from days to seconds, providing a standardized solution for institutional asset transfers.

Solana DvP supports both SPL Token and Token-2022 assets, including controls used by regulated issuers. The program uses two escrow accounts, one for the asset and one for the payment, with a settlement authority overseeing the transaction. If the full transaction cannot be completed, neither side changes hands. The authority can be a bank, custodian, exchange, or another party chosen by the counterparties.

JPMorgan provided input on securities settlement practices but did not design, operate, approve, or endorse Solana DvP. The bank's role was limited to advising the Foundation on institutional settlement requirements. The program has undergone a security review by Cantina, which identified and fixed four medium-severity issues before the public launch.

Solana DvP is now accessible through the Markets module of Solana's enterprise developer platform. The Foundation invites design partners and early participants ahead of its planned production release, though no specific date or named institutions using the standard have been announced. SOL traded near $120.93 on October 6, with a 0.8% loss over twenty-four hours.