Solana Foundation Launches DvP Program to Cut Settlement From Days to Seconds

The Solana Foundation has launched Solana DvP, an open-source settlement program designed to help financial institutions complete delivery-versus-payment (DvP) transactions in seconds rather than waiting days.

Announced Tuesday, the program provides an open-source application programming interface (API) for DvP settlement on the Solana blockchain. The initiative is aimed at institutions looking for reusable settlement infrastructure rather than building individual smart-contract systems for each transaction.

Solana Targets Faster Securities Settlement

Solana DvP is designed to combine the transfer of an asset and its corresponding payment into a single atomic transaction.

Under the model, both sides of a transaction either settle together or neither takes effect. The Solana Foundation said this could reduce securities settlement times from one or two days to seconds, while limiting the settlement risk associated with transactions in which the asset and payment are processed separately.

The program is positioned as standardized infrastructure that financial institutions can use across different settlement scenarios, rather than requiring them to develop custom smart contracts for individual applications.

The approach also seeks to address counterparty exposure by ensuring that the delivery of an asset is tied directly to the corresponding payment within the same transaction.

JPMorgan Contributes to Institutional Settlement Design

The project has also drawn input from traditional financial institutions.

Rhodel D’Souza, head of markets digital assets at JPMorgan, said institutional participants need foundational settlement infrastructure that can support large-scale operations without introducing additional settlement risk or counterparty exposure.

JPMorgan contributed input on institutional settlement practices and requirements during the development of Solana DvP.

The involvement highlights the growing interest among financial institutions in blockchain-based settlement infrastructure, particularly as tokenized assets become more prominent in capital markets.

DvP Becomes a Blockchain Battleground

Solana's launch adds to a broader effort across the financial industry to use blockchain networks to shorten settlement cycles and connect asset delivery with payment.

In June 2025, Chainlink, JPMorgan's Kinexys platform and Ondo Finance completed a cross-chain DvP pilot involving a tokenized US Treasury fund and payment through Kinexys.

Other financial infrastructure providers are also targeting continuous settlement.

On October 5, Payward, the parent company of Kraken, partnered with Singapore Gulf Bank to provide 24/7 US dollar settlement for selected institutional clients in Asia and the Gulf region.

Together, these developments point toward a financial market increasingly built around faster settlement, tokenized assets and payment infrastructure capable of operating beyond traditional banking hours.

Solana Pushes Blockchain Deeper Into Institutional Finance

Solana DvP represents another attempt to position blockchain infrastructure as a settlement layer for institutional markets rather than simply a platform for cryptocurrency trading.

The key proposition is speed combined with atomic settlement: assets and payments can change hands within the same transaction, reducing the gap between the two sides of a trade.

For financial institutions, the appeal extends beyond faster settlement. Standardized DvP infrastructure could also reduce the need to build bespoke settlement systems while providing a common framework for transactions involving tokenized securities and digital payments.

If institutions adopt such systems at scale, settlement could increasingly shift from a process measured in business days to one designed around near-instant execution.