Open Source · JPMorgan · CoinDesk
In traditional markets, assets and cash move through a chain of clearinghouses and custodians over one to two days
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
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In plain English, institutions no longer have to trust the counterparty to deliver later.
Key facts
- On Oct. 6, the Foundation unveiled Solana DvP, an open-source delivery-versus-payment program that lets institutions settle trades “atomically on-chain,” with finality in seconds instead of days
- JPMorgan’s Kinexys has successfully tested a cross-chain DvP trade with Ondo Finance, bridging its permissioned payments infrastructure with the public Ondo Chain testnet
- Solana is already involved in notable tokenization experiments involving institutions, including a J.P. Morgan–arranged commercial paper deal for Galaxy Digital settled in USDC
- At Consensus Hong Kong in February this year, institutions emphasized that robust privacy features are key to mass adoption of blockchain technology by institutional players
Summary
The Solana Foundation introduced Solana DvP, an open-source program that settles asset and payment transfers together on-chain within seconds, reducing counterparty risk. The externally audited standard aims to replace institutions’ custom settlement contracts and support the growth of tokenized assets across Solana. JPMorgan contributed settlement expertise to the project, while the foundation plans to add privacy features sought by institutional market participants. Solana Foundation, a non-profit dedicated to the decentralization, growth, and security of smart contract blockchain Solana, is taking a big swing at one of traditional finance’s old headaches, settlement risk. On Oct. 6, the Foundation unveiled Solana DvP, an open-source delivery-versus-payment program that lets institutions settle trades “atomically on-chain,” with finality in seconds instead of days.