Solana Foundation launches DvP settlement to complete transfers in seconds

The Solana Foundation announced on Tuesday the launch of Solana DvP, an open-source settlement program designed to help financial institutions execute delivery-versus-payment transactions in seconds rather than the traditional one to two days. The program provides an application programming interface for DvP settlement on the Solana blockchain, enabling assets and payment to transfer in a single atomic transaction that either completes in full or does not execute at all. By offering a reusable standard, Solana DvP spares institutions the need to build custom smart contracts for each settlement workflow.

The initiative addresses a core concern for institutional adoption of blockchain infrastructure: settlement risk and counterparty exposure. Rhodel D'Souza, head of markets digital assets at JPMorgan, described the standard as the kind of "foundational infrastructure" that institutional market participants require "to operate at scale without introducing settlement risk and counterparty exposure." JPMorgan contributed guidance on institutional settlement practices and requirements during the development of the program, signaling major Wall Street interest in Solana's settlement rails.

The announcement is part of a wider industry push to modernize financial processes. Chainlink, JPMorgan's Kinexys, and Ondo Finance completed a cross-chain DvP pilot in June 2025 involving Ondo's tokenized US Treasury fund settled via Kinexys. One day before the Solana DvP launch, Kraken parent company Payward partnered with Singapore Gulf Bank to enable 24/7 US dollar settlement for select institutional clients across Asia and the Gulf region. Together, these efforts underscore how blockchain-based settlement is moving from pilot programs toward production-grade infrastructure for institutional finance.