Has JPMorgan previously used Solana for institutional transactions?

Yes. In December 2025, JPMorgan arranged a US$50 million tokenised commercial paper issuance for Galaxy Digital on Solana, which was purchased by Coinbase and Franklin Templeton, with JPMorgan handling the DvP settlement itself. That transaction relied on bespoke arrangements, whereas Solana DvP is intended to convert that type of one-off settlement into reusable public infrastructure available to other participants.

What would indicate that institutions are actually adopting the standard?

The most concrete signal would be a named bank, asset manager or custodian settling a live trade using Solana DvP, and whether additional firms follow with repeat use. The Foundation's planned privacy features also matter, since institutions often hesitate to reveal trade details on a public blockchain. A long stretch with no named adopters, or institutions continuing to prefer private networks or competing chains, would suggest slower uptake.

How does this announcement relate to Solana's token standards?

Solana DvP supports Solana's standard token formats, including Token-2022 features that regulated issuers depend on, such as pausing a token or restricting transfers. Those controls matter because regulated institutions need compliance mechanisms embedded in the token itself rather than handled externally. The Foundation has also said the program passed external security audits and that privacy features will be added so settlement details can stay confidential. Based on public news sources.

Solana Foundation Launches Open DvP Settlement Standard With JPMorgan Input

The Solana Foundation has released Solana DvP, an open-source escrow program that lets institutions settle tokenised asset trades in a single atomic transaction. JPMorgan advised on settlement practices during development, but has not committed to using the standard.

Disclaimer: News content is based on public news sources and provided for information only. It does not constitute investment advice.

Solana Foundation Launches Open DvP Settlement Standard With JPMorgan Input

Forexlive·10/6/2026, 03:01:19· crypto

What the Solana Foundation Released

The Solana Foundation announced Solana DvP in New York on Monday, 5 October, describing it as an open-source escrow program that lets banks and other financial institutions settle trades of tokenised assets on the Solana blockchain in one step. The code is released under the MIT licence, meaning any firm can use, adapt or build on it without paying licensing fees. It supports Solana's standard token formats, including Token-2022 features that regulated issuers rely on, such as the ability to pause a token or restrict transfers. The foundation said the program has passed external security audits and that privacy features are planned so settlement details can remain confidential. It is now inviting design partners and early participants ahead of a full production release.

Delivery-Versus-Payment and Why the Format Matters

Delivery-versus-payment, or DvP, is a core safeguard in securities markets: the asset and the cash change hands simultaneously, or the trade does not happen at all, which removes the risk that one side pays and the other fails to deliver. In traditional markets this process runs through clearing houses, depositories and custodians and typically takes one to two days to complete. The Solana Foundation says its program performs the same function within a single atomic transaction, with finality reached in seconds. The mechanism is designed to be usable by any two counterparties working with any settlement agent, including a bank, custodian or exchange.

How This Differs From Prior Institutional Activity

Institutions settling on-chain have so far generally relied on custom smart contracts written for each individual deal, which adds cost and limits interoperability between firms. A shared open standard is intended to lower that cost and make tokenised securities easier to trade between counterparties that have not built their own tooling. There is an existing precedent: in December 2025, JPMorgan arranged a US$50 million tokenised commercial paper issuance for Galaxy Digital on Solana, bought by Coinbase and Franklin Templeton, and handled the DvP settlement itself. Solana DvP essentially turns that kind of bespoke settlement arrangement into reusable public infrastructure.

The Limits of JPMorgan's Involvement

Rhodel D'souza, Head of Markets Digital Assets at JPMorgan, said a shared open standard for atomic settlement is the kind of foundational infrastructure institutional participants need, and that the bank was pleased to contribute its expertise. The accompanying press release includes a JPMorgan disclaimer stating that the bank's involvement was limited to advice on settlement practices, and that this should not be read as JPMorgan designing, operating, approving or endorsing the program. JPMorgan has not said it will settle trades through Solana DvP. The practical change is that a standard now exists; use of it by institutions has not yet been demonstrated.

SolanaJPMorganTokenised AssetsBlockchain SettlementDigital Assets Infrastructure

Frequently asked questions

What is Solana DvP and who released it?▾

Solana DvP is an open-source escrow program released by the Solana Foundation that allows institutions to carry out delivery-versus-payment settlement of tokenised assets on the Solana blockchain in a single atomic transaction. It was announced in New York on 5 October and is published under the MIT licence, meaning anyone can use or modify the code for free, including commercially.

What role did JPMorgan actually play?▾

JPMorgan provided input on institutional settlement practices during the program's development, and Rhodel D'souza, the bank's Head of Markets Digital Assets, commented that a shared open standard for atomic settlement is foundational infrastructure institutions need. However, the press release includes a disclaimer stating JPMorgan's involvement was limited to advice, and that this should not be interpreted as the bank designing, operating, approving or endorsing the program. JPMorgan has not said it will settle trades through Solana DvP.

What is delivery-versus-payment and why does it matter?▾

Delivery-versus-payment is a settlement convention in which the asset and the cash change hands at the same moment, or the trade does not complete at all. This eliminates the risk that one party pays and the other fails to deliver, which is a central concern in securities markets. In traditional markets the process runs through clearing houses, depositories and custodians and typically settles in one to two days, whereas the Foundation says its program completes settlement in seconds with finality.

Key takeaways

What the Solana Foundation Released

Delivery-Versus-Payment and Why the Format Matters

How This Differs From Prior Institutional Activity

The Limits of JPMorgan's Involvement

Signals to Watch and Adoption Questions

Common mistakes to avoid

Reacting to a single headline without reading the full context — one data point is rarely the whole story.
Treating rewritten news as a signal — it describes what happened, never what to do next.
Confusing AI-rewritten content with the original source — always verify important facts against the primary report.

Solana Foundation Launches Open DvP Settlement Standard With JPMorgan Input

What the Solana Foundation Released

Delivery-Versus-Payment and Why the Format Matters

How This Differs From Prior Institutional Activity

The Limits of JPMorgan's Involvement

Frequently asked questions

Key takeaways

Common mistakes to avoid

Related reading

What the Solana Foundation Released

Delivery-Versus-Payment and Why the Format Matters

How This Differs From Prior Institutional Activity

The Limits of JPMorgan's Involvement

Frequently asked questions

Key takeaways

Common mistakes to avoid

Related reading

Signals to Watch and Adoption Questions