Solana Introduces Commitment Standard for Institutions with J.P. Morgan's Involvement

The Solana Foundation has launched the Solana DvP program, an open escrow service for delivery versus payment settlements, developed with the involvement of J.P. Morgan. This was announced on Monday. The tool provides financial institutions with a standardized API, ensuring settlement reliability as assets and payments are exchanged simultaneously. The program is released under the permissive MIT license and aims to provide such settlement assurance for public blockchain infrastructure as a reusable standard, rather than relying on individual smart contracts previously used in institutional deals. The foundation stated that J.P. Morgan provided insights into institutional settlement practices, which formed the basis of the development. “Atomic settlements eliminate counterparty risks inherent in traditional finance,”– said Katherine Gu, Head of Product for Digital Assets at Solana Foundation. She added that the program offers institutions a single open standard “with full finality in seconds instead of days.”

Rhodell D'Souza, Head of Digital Assets at J.P. Morgan Markets, noted that a widespread open standard for atomic delivery versus payment settlements is “exactly the infrastructure foundation needed by institutional market participants.” In traditional markets, delivery versus payment settlement goes through a multi-step chain of clearing and depository organizations, which can lock up capital for a day or two. Solana DvP compresses this process into a single atomic transaction, where both parties settle simultaneously or neither settles. The program supports SPL Token and Token-2022, including extensions relied upon by regulated issuers, such as permanent delegate, pausable tokens, and transfer hooks. It has undergone external security audits, and the foundation plans to add privacy features to keep settlements confidential.

The program's launch underscores Solana's growing appeal among institutions seeking tokenized real-world assets. In August, BlackRock, the world's largest asset manager, launched a tokenized money market fund for stablecoin reserves, recording ownership on Solana alongside Ethereum, structured to meet reserve asset requirements under the GENIUS Act. Meanwhile, Kraken used Solana to offer tokenized U.S. stocks to overseas clients through its xStocks product. Solana has become a leading platform for tokenized stocks, and infrastructure solutions like DvP aim to deepen this leadership by providing regulated participants with a reliable way to settle on the blockchain.