Solana Foundation Offers Banks Open-Source Code for One-Step Tokenized Trade Settlement

The Solana Foundation has released open-source code designed to help banks and other institutions settle tokenized trades through a single, atomic transaction. The program, called Solana DvP, is intended to ensure that an asset and its payment exchange together—or that neither leg settles.

A Shared Delivery-versus-Payment Standard

In traditional securities markets, delivery-versus-payment (DvP) prevents one party from delivering an asset without receiving payment, or paying without receiving the asset. Clearinghouses, depositories and custodians provide that protection, but the foundation said the process can leave capital tied up for one to two days.

Onchain institutions have typically used bespoke smart contracts to coordinate the two sides of a trade. Solana DvP is positioned as a shared settlement standard for the network, with code released under the MIT license.

The program uses escrow accounts funded through ordinary token transfers, meaning custodians do not need special integrations to participate. A designated third party—such as a bank, custodian or exchange—can be authorized to complete settlement and release both legs at once.

• The buyer and seller agree on the amounts and the asset and payment tokens.
• Each side deposits its respective token into escrow.
• The named settlement party releases both legs in one transaction.
• Either party or the settlement party can cancel and retrieve deposits before settlement.
• Trades cannot settle after their deadline expires.

Institutional Input and Token Support

The program supports Solana’s standard token formats, including Token-2022 features used by regulated issuers, such as the ability to pause a token. The foundation said the code has undergone external security audits and is “ready for use with real funds.” It also plans to add privacy for settlement details and is seeking design partners before a production release.

J.P. Morgan contributed input on how institutions settle securities, but the foundation emphasized that the bank did not design, operate or endorse Solana DvP. Rhodel D’souza, the bank’s head of markets digital assets, said a shared, open standard for atomic DvP is foundational infrastructure for institutional markets because it can reduce settlement risk and counterparty exposure.

J.P. Morgan has previously participated in tokenized-asset settlement. In December 2025, it arranged Galaxy Digital’s first commercial paper issuance on Solana, facilitating DvP when Coinbase and Franklin Templeton purchased the debt. In May, its Kinexys unit handled the dollar leg of a cross-border redemption involving Ondo’s tokenized Treasury fund, whose tokens moved on the XRP Ledger.

What This Means

Solana DvP gives institutions a common, auditable settlement mechanism instead of requiring each firm to build its own escrow logic. If banks, custodians and exchanges adopt the standard, it could strengthen Solana’s position as infrastructure for tokenized securities and reduce the operational friction associated with onchain delivery-versus-payment.

The announcement is not yet a production launch or an endorsement from J.P. Morgan. Its near-term significance will depend on design-partner testing, privacy development and whether institutions are willing to move real settlement workflows onto the network.