Solana Foundation Launches Solana DvP, an Atomic Settlement Program Built for Financial Institutions

What happened

Released under the MIT license, it aims to bring the settlement certainty that banks and other financial institutions require to public blockchain infrastructure for the first time as a reusable standard that is atomically settled, provides isolated escrow, and enforces deadlines. Morgan provided Solana Foundation with valuable input on institutional settlement practices and requirements.

Morgan's decades of securities settlement expertise with Solana's performance as the leading venue for tokenized (representing an asset as a tradable entry on a blockchain) real-world assets. Until now, institutional trades settling onchain have typically relied on bespoke smart contracts (a program that runs on a blockchain and moves funds by its own rules).

Solana DvP replaces that with one standard rail. "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." – Rhodel D’souza, Head of Markets Digital Assets, J.P.