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      Solana Foundation Launches DvP Settlement Solution, Aiming to Become the Standard for Institutional On-Chain Transactions

      PANews, October 6 – According to TheStreet, the Solana Foundation announced the launch of Solana DvP (Delivery-versus-Payment), an open-source delivery-versus-payment (DvP) settlement program for institutions, designed to help financial institutions achieve simultaneous settlement of assets and funds on the Solana blockchain. It is reported that JPMorgan provided relevant advice on institutional settlement needs during the project's development.

      The Solana Foundation stated that Solana DvP is based on the DvP settlement principle in traditional financial markets, in which asset delivery and payment are completed simultaneously, avoiding the counterparty risk of one party completing payment while the other fails to deliver the asset. Compared with traditional markets, which typically require processes involving clearing institutions, custodians and others and take 1 to 2 business days to complete settlement, Solana DvP can achieve simultaneous transfer of assets and funds through a single atomic transaction and complete settlement within seconds. Previously, institutions settling transactions on-chain typically needed to customize smart contracts for each transaction, whereas Solana DvP provides a unified standard under the MIT open-source license, allowing institutions to use and build on it without licensing fees.


      Source: PANews
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