Solana Foundation Launches Open-Source Institutional Settlement Program with J.P. Morgan

Key Facts

1The Solana Foundation launched an open-source Delivery versus Payment (DvP) program to facilitate atomic trade settlement.

2J.P. Morgan contributed its perspective on how institutions settle securities to the program's development.

The Solana Foundation launched an open-source Delivery versus Payment (DvP) program to facilitate atomic trade settlement for financial institutions. According to Unchained Crypto, the program is designed to allow banks and institutions to settle tokenized asset trades in a single step, ensuring that the exchange of assets and payments occurs simultaneously or not at all.

J.P. Morgan contributed its perspective on institutional securities settlement to the development of the program. This collaboration aims to reduce counterparty risk and accelerate transaction finality by moving away from bespoke smart contracts, with the foundation stating the code has undergone external security audits and is ready for production use.