Solana Foundation unveils a program to settle institutional trades in seconds. JPMorgan gave input
In this news:
Key takeaways
- Solana introduced an atomic settlement program for institutional trades.
- The system provides finality in seconds on public infrastructure.
- JPMorgan contributed settlement expertise and data to shape the project.
“Atomic settlement removes counterparty risk that is inherent in traditional finance. Solana DvP program provides institutions with one open standard across the Solana ecosystem, on public infrastructure, with finality in seconds instead of days,” Catherine Gu, head of product, Digital Assets, Solana Foundation, said in a press release shared with CoinDesk.
Faster, safer settlement lowers the friction cost of moving value on-chain, which is precisely what tokenized assets need to scale.
Solana is already involved in notable tokenization experiments involving institutions, including a J.P. Morgan–arranged commercial paper deal for Galaxy Digital settled in USDC. An open, audited DvP standard could turn those one-off deals into regular business.
The latest effort has inputs from JPMorgan, too. The investment bank fed the project with decades of settlement-related information, helping shape requirements around deadlines, escrow isolation, and the token extensions regulated issuers rely on, such as pausable tokens and transfer hooks under Solana’s upgraded token standard, Token-2022.
Pausable tokens are crypto token featuring an emergency-stop mechanism so that the administrator can freeze transfers when required.
“A shared, open standard for atomic delivery-versus-payment is exactly the kind of foundational infrastructure institutional market participants require to operate at scale without introducing settlement risk and counterparty exposure. We were pleased to contribute our settlement expertise,” Rhodel D'souza, head of markets digital assets at J.P. Morgan, said.
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