Solana Foundation launches institutional settlement programme
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- Solana Foundation launched Solana DvP, an open-source settlement programme for financial institutions.
- The programme settles asset and cash transfers atomically, with finality in seconds.
- J.P. Morgan provided input on institutional settlement requirements and securities market practices.
Solana Foundation has launched Solana DvP, an open-source settlement programme for financial institutions.
The programme replaces bespoke smart contracts with one standard rail for on-chain institutional trades.
“Atomic settlement removes counterparty risk that is inherent in traditional finance. Solana DvP program provides institutions with one open standard across the Solana ecosystem, on public infrastructure, with finality in seconds instead of days,” Solana Foundation Digital Assets Head of Product Catherine Gu said in a statement.
Solana DvP settles assets and cash together, removing principal risk from the transaction.
“A shared, open standard for atomic delivery-versus-payment is exactly the kind of foundational infrastructure institutional market participants require to operate at scale without introducing settlement risk and counterparty exposure. We were pleased to contribute our settlement expertise,” J.P. Morgan Head of Markets Digital Assets Rhodel D’souza said in a statement.
The programme supports SPL Token and Token-2022, including features used by regulated issuers.
Solana DvP has completed external security audits and is ready for use with real funds.
Following the update, SOL was trading down 1.5% at $119.79.
