Solana Foundation launched an open-source program that lets institutions settle trades in seconds, not days. JPMorgan provided key inputs.
The Nasdaq-listed company's SOL and SOL-equivalent holdings are valued at about $302 million.
Solana (SOL) was reported at $120.03 on Oct. 6 after moving above $120.
Four other Solana ecosystem tokens also posted 24-hour declines, ranging from more than 7% to more than 46%.
Solana's DvP program could revolutionize institutional trade settlement by reducing counterparty risk and accelerating transaction finality. Solana launches open-source DvP program for institutional trade settlement.
Built with input from J.P. Morgan, the open-source "DvP" program lets institutions settle trades atomically on Solana with finality in seconds instead of days.
Withdrawals over the past five trading days totaled $16.1 million, while cumulative net inflows since launch remained positive at $1.59 billion.
Backpack Securities issues CBRS, which holders can redeem for Cerebras Systems shares at a 1:1 ratio or transfer to traditional brokerages.
DeFi Development Corp. expects cash to have more than doubled and SOL borrowings to have fallen since August 12, with NAV per share up over 100%.
Nasdaq-listed DeFi Development Corp's latest SEC filing shows its Solana stash grew 1%, to about 2.56 million SOL and SOL equivalents—roughly half the prior week's gain and well below mid-September's pace.
Solana's hackathon highlights growing interest in 24/7 tokenized stock trading, potentially reshaping access to pre-IPO and private equities. Solana's Stocklana hackathon draws 604 submissions chasing $126K in prizes.
Backpack Securities launched a tokenized version of the iShares MSCI Brazil ETF (EWZ) on Solana, redeemable 1:1 for traditional ETF shares. The launch coincided with a sharp Brazilian market rally after the first-round presidential election, with EWZ rising about 13% and the Bovespa gaining more than 8%.