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      Solana Foundation Launches Open-Source Custody Program with JPMorgan's Input

      The Solana Foundation has introduced Solana DvP, an open-source custody program designed to provide financial institutions with a standardized Delivery versus Payment (DvP) settlement API. This initiative, released under the MIT license, aims to enhance settlement assurance within public chain infrastructure, moving away from the customized smart contracts that have been traditionally used for institutional trading. JPMorgan played a significant role in the design of this program, contributing insights into institutional settlement practices.

      Solana DvP significantly streamlines the settlement process, reducing what typically takes days through clearinghouses and custodians into a single atomic transaction. This means that assets and payments are settled simultaneously, eliminating counterparty risk. The program supports SPL Tokens and Token-2022, incorporating features such as permanent delegation and pauseable tokens, which are essential for regulated issuers. The foundation has also indicated plans to introduce privacy features to protect settlement information in the future.

      Catherine Gu, head of digital asset products at the Solana Foundation, emphasized that this atomic settlement process allows institutions to achieve finality in seconds rather than days. Rhodel D'souza, head of market digital assets at JPMorgan, remarked that the shared atomic DvP open standard is crucial for institutional market participants. This launch reflects Solana's growing appeal in the tokenized asset sector, following recent developments such as BlackRock's tokenized money market fund and Kraken's offering of tokenized U.S. stocks to international clients through its xStocks product on the Solana platform.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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