Key facts
- Solana DvP is an open-source escrow program for delivery-versus-payment settlement.
- The program offers a standardized API for financial institutions.
- J.P. Morgan provided input on institutional settlement practices.
- Solana DvP compresses multi-day settlement into a single atomic transaction.
- The tool supports SPL Token and Token-2022 standards.
The Solana Foundation has introduced Solana DvP, an open-source escrow program aimed at institutional finance, providing a standardized API for delivery-versus-payment (DvP) settlement. Developed with input from J.P. Morgan, the program seeks to bring the certainty of traditional market settlements to public blockchain infrastructure.
Released under the MIT license, Solana DvP enables atomic settlement, where an asset and its payment are exchanged simultaneously or not at all, thereby removing counterparty risk. This process compresses the multi-day clearinghouse and custodian procedures common in traditional finance into a single transaction that finalizes in seconds, according to the foundation. Catherine Gu, Solana Foundation's head of product for digital assets, highlighted that this offers a single open standard with "finality in seconds instead of days."