Solana Foundation Launches Open-Source Atomic Settlement Code for Banks

The Solana Foundation launched Solana DvP, an open-source MIT-licensed escrow program designed to standardize delivery-versus-payment for institutional tokenized trades. The system executes atomic settlement by swapping an asset and its payment in a single transaction, eliminating the 1 to 2 days of capital lockup required by traditional off-chain clearinghouses. To execute a trade, the buyer and seller agree on amounts of two tokens and fund their own escrow accounts with an ordinary token transfer, requiring no special integration for custodians. J.P. Morgan contributed input on how institutions settle securities, though the foundation clarified the bank does not operate or endorse the program. The protocol integrates with Token-2022 controls used by regulated issuers and requires a designated third party to release both legs of the transaction at once. "Atomic settlement removes counterparty risk that is inherent in traditional finance." — Catherine Gu