Solana Foundation has shipped an open-source delivery-versus-payment program, built with input from J.P. Morgan on institutional settlement practices.
1. What it is: an MIT-licensed escrow program giving institutions one standard way to settle. The asset and the payment move inside the same transaction, or neither moves. It supports SPL Token and Token-2022, including the issuer extensions regulated desks ask for.
2. The part worth sitting with: atomic settlement does not delete settlement risk, it converts it into a funding problem. For both legs to clear together, both legs have to already be on the same ledger, under the right keys, at the same instant.
3. That is a bigger change than the speed headline. A multi-day cycle quietly buys you netting, where thousands of trades offset before anything actually moves. Trade-by-trade atomic settlement is gross settlement, so the cash each desk must keep parked intraday goes up, not down.
4. Second thing to watch: pausable tokens, transfer hooks and a permanent delegate mean the ledger can be final in seconds while the token stays steerable by whoever issued it. Settled and irreversible quietly stop being the same word.
What I am watching is whether early users route single large trades through it, or build a netting layer on top first.
Not financial advice. Do your own research.
#CryptoNews #Blockchain
1. What it is: an MIT-licensed escrow program giving institutions one standard way to settle. The asset and the payment move inside the same transaction, or neither moves. It supports SPL Token and Token-2022, including the issuer extensions regulated desks ask for.
2. The part worth sitting with: atomic settlement does not delete settlement risk, it converts it into a funding problem. For both legs to clear together, both legs have to already be on the same ledger, under the right keys, at the same instant.
3. That is a bigger change than the speed headline. A multi-day cycle quietly buys you netting, where thousands of trades offset before anything actually moves. Trade-by-trade atomic settlement is gross settlement, so the cash each desk must keep parked intraday goes up, not down.
4. Second thing to watch: pausable tokens, transfer hooks and a permanent delegate mean the ledger can be final in seconds while the token stays steerable by whoever issued it. Settled and irreversible quietly stop being the same word.
What I am watching is whether early users route single large trades through it, or build a netting layer on top first.
Not financial advice. Do your own research.
#CryptoNews #Blockchain