Solana launches open DvP settlement tool

The Solana Foundation has released Solana DvP, an open-source program that aims to give banks, custodians and exchanges a standard way to settle tokenised assets on the Solana blockchain. Announced on 6 October 2026 and published under the MIT licence, the program was built with advisory input from J.P. Morgan.

DvP stands for delivery versus payment: a settlement method in which an asset and the payment for it change hands at the same time. It is a cornerstone of traditional securities markets, where the process often runs through clearing houses and custodians and can take days.

How Solana DvP works

The program holds each side of a trade in its own escrow account. Settlement follows three steps: the parties record the terms, fund their escrows, and then a settlement authority, such as a trading venue or agent, releases both legs in a single transaction. Either both transfers happen, or neither does.

Trades can include an optional earliest settlement time and an enforced expiry. Either party can withdraw its side before settlement or after the deal has expired, and the program refuses to settle once the expiry has passed. This protects both sides from being left with a half-completed trade.

Built for institutional tokens

Solana DvP accepts tokens created with Solana's SPL Token and Token-2022 standards, including features that regulated issuers often need, such as permanent delegates, pausable tokens and transfer hooks. Some token types are not supported, including tokens with transfer fees, interest-bearing tokens and non-transferable tokens.

The program is deliberately narrow. It does not include an order book, netting, partial fills, KYC checks or off-chain cash legs. Those functions remain with the venues and institutions that use it.

Security review and J.P. Morgan's role

Before release, the code was audited by Cantina between 21 and 28 May 2026. The review produced 21 findings: four of medium severity, six low and eleven informational. All four medium findings were marked as fixed.

J.P. Morgan's role was advisory. The bank provided input on securities settlement practices but did not design, operate, certify or endorse the program. Solana Foundation's head of product for digital assets, Catherine Gu, said atomic settlement removes the counterparty risk found in traditional finance and brings finality in seconds rather than days.

Where stablecoins come in

Settlement standards matter most when both legs of a trade live on the same network. An earlier commercial paper example from J.P. Morgan, in December 2025, used the USDC stablecoin as the payment leg. With a shared escrow standard, a tokenised security and a digital dollar payment can be locked, checked and released together, without either party having to trust the other to go first.

What to watch next

The key test is adoption. Open-source code is only useful if trading venues, custodians and issuers build on it. Over the coming months, it will be worth watching whether regulated platforms start to use Solana DvP for real transactions, and whether other networks move towards similar shared standards for settlement.

Why it matters for payments

Tokenisation is growing fast, but many institutions still write custom smart contracts for each deal. A shared, audited standard could lower the cost and risk of bringing bonds, funds and other assets on-chain. When the payment leg is settled in a stablecoin, the same transaction can move both the asset and the money, a model that could also make cross-border settlement simpler and faster.

What it means for ODIX Pay users

Instant settlement on blockchains is the same idea that makes stablecoin payments fast for individuals. If you are asking what is a stablecoin, it is a digital token built to keep a steady value, usually one US dollar. In the ODIX Pay app you can buy crypto with a credit card or debit card, choosing the dollar stablecoins USDT or USDC. Availability depends on your country, and every fee is shown before you confirm. See how to buy USDT and USDC with your card.