The Solana Foundation, the Swiss nonprofit that supports the decentralization, growth, and security of the Solana blockchain, launched a tool on Tuesday that aims to tackle settlement risk by letting banks and large financial institutions settle trades onchain in seconds. In traditional markets, the same trade can usually take up to one or two days to fully settle.

The tool unveiled by the foundation is called Solana DvP, according to an official announcement. JPMorgan advised on how it should work, though the bank did not build it, and the foundation's press release is clear that its role was limited to sharing settlement expertise.

Until now, institutions settling onchain have typically relied on bespoke smart contracts. Solana DvP gives them a shared, open standard for atomic delivery-versus-payment, with input from J.P. Morgan on securities settlement practices 🧵

— Solana Foundation (@SolanaFndn), October 6, 2026

What Delivery Versus Payment Actually Means

In traditional finance, settling a trade can take longer than most people would expect. A trade between two parties must pass through clearinghouses, depositories, and custodians before the deal is actually done, which is why settlement can stretch over a couple of days. During this waiting period, there is a risk that one party pays while the other fails to deliver — and the longer that window stays open, the more time cash and assets sit in limbo between the two legs of the trade.

Delivery versus payment, or DvP, makes the exchange conditional, so the asset only moves if the payment moves at the same time. Banks have used DvP as the standard model for settling securities for more than three decades.

Solana DvP applies the same principle and puts both sides of the trade into a single onchain transaction with finality in seconds. If anything goes wrong on either side, nothing settles, turning an exchange that would otherwise unfold over days into an all-or-nothing event.

"Atomic settlement removes counterparty risk that is inherent in traditional finance," said Catherine Gu, head of product for digital assets at the Solana Foundation.

An Open Standard, Not Bespoke Code

Until now, institutions settling trades onchain have mostly relied on custom smart contracts built for each deal. The foundation wants to remove this fragmentation and replace it with an open standard, so two counterparties adopting the same program do not each have to build and vet their own code. The program is open source under the MIT license and free to use, and counterparties can bring any settlement agent they like, including a bank or a custodian.

JPMorgan's Input Centered on Regulated Tokens

Regulated issuers often need controls that ordinary crypto tokens lack, such as the power to pause transfers in an emergency. Solana DvP supports the network's SPL Token and Token-2022 standards, including extensions for pausable tokens, permanent delegates, and transfer hooks. Put simply, an issuer can freeze a token or attach rules to every transfer, and settlement tool still works — controls geared toward regulated instruments rather than crypto-native tokens alone.

Rhodel D'souza, head of markets digital assets at JPMorgan, said a shared open standard for atomic settlement is the sort of base infrastructure big market players need to scale without taking on counterparty exposure.

The foundation says the program has passed external security audits and is ready for real funds. Privacy features are planned next so firms can keep trade details confidential, a capability institutions have been asking for.

BlackRock and Kraken Already Run Tokenized Products on Solana

The launch adds to Solana's growing tokenized asset business, part of a broader push by asset managers and trading platforms to record traditional instruments on public blockchains. In August, BlackRock launched a tokenized money market fund for stablecoin reserves that records ownership on Solana alongside Ethereum. Kraken offers tokenized U.S. stocks to overseas customers through its xStocks product on the network. JPMorgan itself arranged a commercial paper deal for Galaxy Digital on Solana in December 2025, settled in USDC.

Solana is not the only chain chasing this business. JPMorgan's Kinexys has tested a cross-chain DvP trade with Ondo Finance, and ClearToken runs DvP settlement on the Canton Network. Both rely on permissioned systems to some degree, meaning access is limited to approved members. Solana's version sits on a fully public chain, and the foundation is now inviting design partners ahead of a full production release, though it has not named those partners or set a date for the production launch.