Solana Foundation targets settlement in seconds with DvP launch

Solana DvP offers financial institutions an open-source settlement program designed to complete asset transfers and payments in seconds.

The Solana Foundation announced Tuesday the launch of Solana DvP, an open-source settlement program for financial institutions that aims to cut settlement times.

Solana DvP offers an open-source application programming interface for delivery-versus-payment (DvP) settlement on Solana.

The program aims to cut securities settlement from one to two days to seconds by transferring assets and payment in a single transaction that either completes in full or does not take effect, the Solana Foundation said in a press release. It is designed to offer institutions a reusable alternative to custom smart contracts.

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