In brief
- The Solana Foundation launched Solana DvP, an open-source escrow program giving financial institutions a standardized API for delivery-versus-payment settlement, released under the MIT license with input from J.P. Morgan.
- The tool compresses the multi-day clearinghouse-and-custodian process into a single atomic transaction where both the asset and payment settle together or neither does.
- It builds on Solana's growing institutional pull in tokenized assets.
The Solana Foundation is making a direct play for institutional finance, launching an open-source program designed to let banks settle trades on the network with the certainty they expect from traditional markets.
Announced Monday, the tool, called Solana DvP, is an open-source escrow program that gives financial institutions a standardized API for delivery-versus-payment settlement, the bedrock mechanism that ensures an asset and its payment change hands simultaneously.
