Solana Foundation Launches Atomic DvP Settlement Tool With JPMorgan Input
TL;DR The Solana Foundation has launched Solana DvP, an open-source delivery-versus-payment settlement program for financial institutions. The MIT-licensed tool is designed to settle the asset and cash legs of a transaction atomically through isolated escrow. JPMorgan provided input on institutional settlement practices, but the program is a Solana Foundation release rather than a JPMorgan product. The Solana Foundation is putting a piece of traditional securities-market plumbing directly onchain. Solana DvP, announced on October 6, is an open-source escrow program designed to let financial institutions settle delivery-versus-payment transactions in a single atomic process. JPMorgan provided input on institutional settlement requirements as the system was developed. Delivery And Payment Move Together Delivery versus payment is a basic idea with large operational consequences. In a securities transaction, one party needs to deliver the asset while the other delivers the cash. If those two legs settle separately, each side carries the risk that one movement completes while the other does not. Solana DvP is designed to make the two legs conditional on each other. The program uses isolated escrow, atomic settlement and enforceable deadlines so that an exchange can complete as one transaction rather than as two loosely coordinated movements. The code is being released under the MIT licence, giving financial institutions and developers a reusable building block rather than a closed vendor product. Public Blockchain Infrastructure Is Being Adapted For Institutions The involvement of JPMorgan is useful context, but it needs to be described accurately. The bank provided input on the settlement practices and requirements institutions expect. The Solana Foundation built and released the program. That still matters because institutional settlement is not simply a larger version of moving tokens between retail wallets.
Key Takeaways
- TL;DR The Solana Foundation has launched Solana DvP, an open-source delivery-versus-payment settlement program for financial institutions.
- The MIT-licensed tool is designed to settle the asset and cash legs of a transaction atomically through isolated escrow.
- JPMorgan provided input on institutional settlement practices, but the program is a Solana Foundation release rather than a JPMorgan product.
Summary generated by IndiCrypto from NewsBTC. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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