Solana DvP Launches for Banks, J.P. Morgan Gave Input Only

The Solana Foundation announced Solana DvP on October 6, an open-source escrow program for delivery-versus-payment settlement. Released under an MIT license, it targets financial institutions that want to settle tokenized trades on a public chain. Both sides of a trade move in one transaction, or neither does.

Solana Foundation's announcement, dated October 6, 2026.

How Solana DvP Settles A Trade

On paper the design is plain. Two parties agree to swap an asset for cash, and each puts its half into a separate escrow account. Per the project's GitHub README, that deposit is an ordinary token transfer. A wallet or custodian does not have to call anything special.

A named settlement authority holds the only key that can release the trade. It triggers one transaction that pays both legs out and closes the escrows. Either party can pull its own leg back before then, and the authority can cancel the whole trade. Every trade carries an expiry time, after which settlement is rejected but refunds still work. Proceeds can also be redirected when the trade is created, for example to a custodian's deposit wallet.

That authority matters. Per the README, the swap has no custodian and no intermediary, yet the program still names one address that decides when settlement happens. A bank, a custodian or an exchange can fill that role, the foundation says.

Six instructions make up the program, listed in the repository's README.

What J.P. Morgan Did, And Did Not Do

Several outlets framed the launch as a J.P. Morgan project. The release is narrower. It says the bank provided input on institutional settlement practices and requirements, and that its feedback helped shape the program. Rhodel D'souza, the bank's head of markets digital assets, is quoted as "pleased to contribute our settlement expertise."

A disclaimer at the foot of the release is blunter. It limits the bank's involvement to input on securities settlement practices. It says that must not be read as J.P. Morgan designing, developing, operating, approving, certifying, warranting, endorsing or guaranteeing Solana DvP or its performance.

Solana Token Support, Audit And Timing

Solana DvP handles SPL Token and Token-2022 assets, including extensions that regulated issuers lean on: permanent delegate, pausable tokens and transfer hooks. Outside auditors have reviewed the code, the foundation says, and it is ready for use with real funds. The repository links an audit by Cantina.

That release also invites design partners and early participants ahead of a production release. Privacy for confidential settlement is planned, not shipped. Solana's DvP page offers a devnet demo and points users to the Markets module of the Solana Developer Platform. Commits on September 29 and 30 set the program's deployed address and embedded a security.txt file.

What The Speed Claim Means For Solana

Traditional settlement, the foundation says, runs through clearinghouses, depositories and custodians, tying up capital for one to two days. Its pitch for the new program is finality in seconds. Catherine Gu, the foundation's head of product for digital assets, makes that case in the release, saying Solana DvP gives institutions "one open standard" with finality in seconds instead of days. It is a design claim, and the announcement does not describe a live bank trade.

Regulators have been making room for this kind of plumbing. In September the CFTC updated its crypto FAQs so that futures brokers can invest customer funds in tokenized assets and keep records on a blockchain. On the network side, Solana's slot times have been shrinking as well.

Anyone can read the code at github.com/solana-foundation/dvp, and the announcement gives no date for the production release.