Solana Launches Delivery-Versus-Payment Tool for Atomic Securities Settlement

Solana has introduced a delivery-versus-payment (DvP) program aimed at integrating the movement of securities and payment into a single atomic blockchain transaction. Released on October 6 by the Solana Foundation under the MIT license, the tool features isolated escrow, time limits, and support for SPL Token and Token-2022 assets. It seeks to establish a reusable standard for banks and institutions, eliminating the need for custom settlement contracts for each project. JPMorgan provided input on institutional requirements but is not involved in operating or certifying the software, as clarified by the Foundation's disclaimer. The program has undergone external security reviews, with broader adoption and planned privacy features to be addressed in the future. This initiative presents significant potential for tokenized securities, addressing capital and counterparty costs arising from delays between asset delivery and payment. The success of the open-source model in attracting institutions will hinge on legal finality, custody integrations, and error management beyond smart contracts.

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