Solana Foundation Unveils Atomic DvP Settlement on Solana

The Solana Foundation announced Solana DvP on Oct. 5, an open-source escrow program designed to let financial institutions settle an asset and its payment in one atomic transaction on Solana. The shared program aims to replace one-off settlement contracts with a common rail. In its announcement, the Foundation said J.P. Morgan provided input on institutional settlement practices and requirements; it did not design, operate or endorse the program.

How does Solana DvP settle both sides of a trade?

Delivery-versus-payment, or DvP, links delivery of an asset to payment for it. Solana DvP puts both legs into a single atomic transaction: either both settle or neither does. Think of it as a linked exchange where neither side can take its part alone. The program uses isolated escrow and enforces settlement deadlines, according to the Foundation.

The announcement describes an open-source API that counterparties can use with a settlement agent, such as a bank, custodian or exchange. It does not spell out a universal transaction sequence for every trade. The key mechanism is that the exchange runs together, rather than leaving one party waiting after its asset has moved.

Which tokens and institutions can use the program?

The Foundation says Solana DvP supports SPL Token and Token-2022 assets, including Token-2022 extensions such as permanent delegate, pausable tokens and transfer hooks. Those features can matter for regulated issuers that apply controls to how a token is administered or transferred. The program is released under the MIT license, so others can adopt and build on the code.

J.P. Morgan contributed settlement expertise during development. That input helped shape the program around institutional requirements, but the Foundation’s release says the bank’s role should not be read as approval, certification or a guarantee of performance.

Is Solana DvP already in production?

The Foundation says external security audits are complete and the program is ready for use with real funds. It is still seeking design partners and early participants ahead of a production release. So the announcement establishes a reusable settlement tool and an invitation to test it; it does not name institutions conducting live trades.

Solana DvP is intended to compress a process that traditional markets can spread across clearinghouses, depositories and custodians over one to two days. The Foundation says settlement on Solana can reach finality in seconds. That is the program’s stated goal, not evidence that every institutional trade will settle on that timetable. SolanaFloor’s report also describes the launch as a common onchain settlement standard, while noting that the Foundation is still recruiting early participants.

Sources and documents

• announcement — solana.com
• SolanaFloor’s report — solanafloor.com