The Solana Foundation on October 6 announced Solana DvP, an open-source escrow program and API intended for delivery-versus-payment settlement on the network. The MIT-licensed release provides a framework for exchanging an asset and payment together, while J.P. Morgan’s contribution was confined to advisory input on institutional settlement practices and requirements, according to the foundation.
Solana Foundation releases DvP program
Solana Foundation said the program consists of an escrow arrangement and an API, released as open-source software under the MIT licence. Delivery versus payment, commonly abbreviated as DvP, is a settlement structure designed to ensure that the transfer of an asset is tied to receipt of payment.
The foundation drew a narrow boundary around J.P. Morgan’s role. It said the bank did not design, develop, operate, approve, endorse or guarantee Solana DvP. That distinction means the announcement describes consultation, rather than a J.P. Morgan product deployment or operational partnership.
Atomic settlement and trade timing
Solana DvP is designed to settle the asset leg and payment leg atomically: both occur together, or neither does. That structure addresses the interval in which one side of a trade may have completed while the other remains pending.
CoinDesk reported that the program is intended to provide finality in seconds, compared with the one-to-two-day settlement process it described for traditional markets.
The release makes the settlement tooling publicly available, but does not establish that any institution has begun using it in production; production use was described as planned.
Token-2022 and production features
Solana DvP supports SPL Token and Token-2022 assets, including extensions such as permanent delegates, pausable tokens and transfer hooks that can be relevant to token controls and transaction handling.
The Solana Foundation said the program underwent external security audits ahead of planned production use.
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