The Solana Foundation on Monday launched Solana DvP, an open-source escrow program that gives banks and other financial institutions a standardized API for delivery-versus-payment settlement, developed with input from J.P. Morgan and released under the permissive MIT license, which allows anyone to inspect, reuse and build on the code.

The tool is a direct play for institutional finance, designed to let banks settle trades on the network with the certainty they expect from traditional markets. Delivery-versus-payment is the bedrock mechanism of conventional markets, ensuring that an asset and its payment change hands simultaneously. By packaging that guarantee into a reusable open standard for public blockchain infrastructure, Solana aims to move beyond the bespoke smart contracts that institutional trades have typically relied on.

In traditional markets, delivery-versus-payment runs through a multi-day chain of clearinghouses, depositories and custodians, a process that can tie up capital for a day or two. Solana DvP compresses that workflow into a single atomic transaction: the buyer receives the asset only if the seller receives payment, meaning both legs settle together or neither does. That design targets counterparty risk — the exposure one side of a trade carries when it delivers its asset or funds before the other side fulfills its end of the deal.

The foundation said J.P. Morgan, the largest U.S. bank by assets, provided input on institutional settlement practices that shaped the design.

"Atomic settlement removes counterparty risk that is inherent in traditional finance," said Catherine Gu, the Solana Foundation's head of product for digital assets, adding that the program offers institutions a single open standard "with finality in seconds instead of days."

Rhodel D'souza, J.P. Morgan's head of markets digital assets, said a shared, open standard for atomic delivery-versus-payment is "exactly the kind of foundational infrastructure institutional market participants require."

The program supports SPL Token and Token-2022, including extensions that regulated issuers depend on, such as permanent delegate, pausable tokens and transfer hooks. It has undergone external security audits, and the foundation said it plans to add privacy features so that settlements can be kept confidential.

The launch builds on Solana's growing pull among institutions pursuing tokenized real-world assets. BlackRock, the world's largest asset manager, in August launched a tokenized money market fund for stablecoin reserves that records ownership on Solana alongside Ethereum, structured to qualify as a reserve asset under the GENIUS Act, the U.S. stablecoin legislation. Kraken, meanwhile, has used Solana to offer tokenized U.S. stocks to overseas customers through its xStocks product.

Solana has emerged as a leading venue for tokenized equities, and infrastructure like DvP is aimed at deepening that lead by giving regulated players a trusted, standardized way to settle transactions on-chain.