The Solana Foundation has introduced an open-source program designed to let institutions settle asset and payment transfers together on the Solana blockchain within seconds, rather than through traditional processes that can take one to two days.
Called Solana DvP, the program uses delivery-versus-payment, or DvP, mechanics. Under this model, the transfer of an asset and the corresponding payment are linked in one transaction: both are completed together, or neither takes place. The foundation says the approach can reduce counterparty risk while giving institutions a common settlement standard for activity on Solana.
According to CoinDesk, the initiative was unveiled on Oct. 6. JPMorgan contributed settlement expertise to the project, including input on requirements involving deadlines, escrow isolation and features used by regulated token issuers. The program has also undergone external security audits, according to the foundation.
How Solana DvP is intended to work
In conventional financial markets, a trade typically passes through several stages and intermediaries, including clearinghouses and custodians. Cash and assets may move separately and settle over one to two days. During that period, one side of a transaction can face the risk that the other party will fail to deliver after receiving the asset or payment.
Solana DvP is designed to combine those movements into a single atomic on-chain transaction. “Atomic” means the transaction is executed in full or not executed at all. The foundation says this can provide finality within seconds and remove the need for institutions to rely on a counterparty completing a later leg of the trade.
The program also targets a practical problem facing institutions that already conduct transactions on blockchains. Instead of commissioning separate smart contracts for individual deals, participants could use one open standard across the Solana ecosystem. Smart contracts are software programs that automatically execute specified transaction rules on a blockchain.
Catherine Gu, head of product for digital assets at the Solana Foundation, said in a press release shared with CoinDesk that the program offers institutions a single standard on public infrastructure, with settlement finality in seconds rather than days.
JPMorgan’s role and tokenized assets
JPMorgan supplied information from its settlement experience to help shape the project’s requirements. The bank’s input included operational deadlines, the separation of escrow arrangements and support for token extensions used by regulated issuers under Solana’s Token-2022 standard.
Those extensions include pausable tokens and transfer hooks. A pausable token has an emergency-stop function that allows its administrator to freeze transfers when necessary. Such controls can be important for regulated assets, where issuers may need to apply restrictions or respond to operational and compliance requirements.
Rhodel D'souza, JPMorgan’s head of markets digital assets, said the bank was pleased to contribute settlement expertise to an open standard intended to help institutional market participants operate at scale without settlement risk and counterparty exposure.
The Solana Foundation says the program is ready for transactions involving real funds following external security audits. It also plans to add privacy features. Confidentiality has been identified by institutional market participants as an important requirement for broader blockchain adoption, and the foundation says future development will address that need.
Solana has already been used in institutional tokenization activity. The source material points to a commercial paper transaction arranged by J.P. Morgan for Galaxy Digital and settled in USDC. An open and audited DvP standard could provide a more repeatable framework for similar transactions, rather than requiring bespoke arrangements for each deal.
A growing field of blockchain settlement systems
Solana DvP is not the only institutional delivery-versus-payment initiative. JPMorgan’s Kinexys has tested a cross-chain DvP transaction with Ondo Finance, connecting its permissioned payments infrastructure with the public Ondo Chain testnet.
ClearToken has also launched DvP settlement through its own fully permissioned and regulated applications on the decentralized, privacy-enabled Canton Network. These projects reflect different approaches to the same basic objective: linking asset delivery and payment so that a trade does not leave one participant exposed while waiting for the other side to complete its obligation.
Solana’s proposal is distinguished in the source material by its open-source design and use of public infrastructure. The foundation’s aim is to reduce the technical fragmentation that can arise when institutions build separate settlement contracts for individual transactions, while supporting the expansion of tokenized assets on Solana.
Current market picture
Moneyiar market data at 10:08 on Oct. 7, 2026, showed Solana (SOL) at 117.5204045083 USD, down 1.67% over 24 hours and 1.53% over seven days.
At the same time, Gram (prev. Toncoin) was priced at 1.4681854829 USD, down 6.01% in 24 hours and 1.78% over seven days. OpenLedger (OPEN) stood at 0.1123475187 USD at 10:09, down 5.57% over 24 hours and 13.56% over seven days. Notcoin (NOT) was 0.0004593815 USD at 10:09, down 6.9% over 24 hours and 7.96% over seven days.
