Solana Foundation Launches Solana DvP to Enable Seconds-Long Settlement via Delivery-versus-Payment
The Solana Foundation has introduced Solana DvP, an open-source settlement program targeting financial institutions aimed at reducing settlement times from days to seconds. The solution enables the transfer of assets and payments in a single transaction using a delivery-versus-payment (DvP) protocol that either fully completes or fully rolls back. JPMorgan contributed by providing input on institutional market practices and requirements during development.
Features and Objectives of Solana DvP
Solana DvP is an open-source application programming interface (API) designed for delivery-versus-payment (DvP) settlements on the Solana blockchain. Its core objective is to reduce securities settlement time from the conventional one to two days to just seconds by enabling simultaneous transfer of assets and payments within a single atomic transaction that either fully executes or fully reverts.
The Solana Foundation promotes Solana DvP as a reusable and standardized solution for financial institutions, thereby removing the need for bespoke smart contracts for each transaction. This approach aims to lower settlement risks and simplify, as well as accelerate, market operations.
Institutional Backing and Industry Context
The project gained institutional support from JPMorgan, particularly from Rhodel D’Souza, head of markets digital assets, who emphasized the importance of foundational infrastructure enabling participants to operate at scale without introducing settlement and counterparty risks. JPMorgan contributed their expertise on institutional settlement practices during the development phase of Solana DvP.
This initiative is part of a broader trend toward leveraging blockchain to speed up financial settlements. For instance, in June 2025, Chainlink, JPMorgan’s Kinexys, and Ondo Finance conducted a cross-chain DvP pilot involving Ondo's tokenized US Treasury fund and payment execution through Kinexys. Recently, Payward, Kraken’s parent company, partnered with Singapore Gulf Bank to facilitate 24/7 US dollar settlements for select institutional clients across Asia and the Gulf regions.
Why it matters
The launch of Solana DvP is significant as it offers institutional investors a modern, standardized, and secure blockchain-based solution for securities settlement. This can greatly enhance the speed and reliability of asset exchanges, eliminate intermediary risks, and reduce costs associated with traditional multi-step clearing processes. Backing from major banks like JPMorgan underscores the project's relevance to the financial industry and paves the way for broader adoption of similar tools in the market.
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