Solana DvP and JPMorgan: What the Settlement Tool Means

a year from this time, a year ago from this time, I think it was a zero probability outcome. I mean, you know, the the there's a number of things that have changed in that year.

That's a bloke from JP Morgan, the biggest bank in America, on a Salana stage last December, saying that a year earlier, the odds of his bank doing a deal on Salana were zero. Well, at the start of October, that same bank helped shape how the big monies meant to settle trades on Salana. And that same week, money walked out of the Salana ETF's three days running. There's one line at the bottom of Salana's own announcement that almost nobody's read, and it says exactly what JP Morgan didn't do, and I'll get you to find it on your own phone before we're done. There's also a switch on the list that lets whoever issues a token pause it, and I'll tell you who that's really for.

If you've been holding Salana, waiting for the big banks to turn up, I know that feeling. I was trading the day Robin Hood switched off the buy button on GameStop in January 2021 and I watched a platform change the rules halfway through the game. And there's a link in the description. The first one, okay, it's changed how a lot of people handle the big calls on coins like this. And I'll tell you why before we're 5 minutes in.

Because if you're holding a proper bag of Salana, this is more than a nice headline. And we've all watched the big players change the rules on the rest of us before. So, when the banks turn up on their own terms, whose terms is your Salana held on? Well, by the end of this, I'll show you the one thing the banks insisted on before they touch it and the three decisions it forces on anyone with a serious bank. So, stay with me.

Right. So, what actually launched? Well, on the 6th of October, the Salana Foundation, the nonprofit behind Salana, put out something called Salana DVP. That stands for delivery versus payment. And it's the oldest rule there is for buying anything big.

Think about buying a used car off a stranger. You're not handing over the cash and hoping he posts you the keys next week, are you? The car and the cash swap at the same moment or nobody moves. Here's the foundation's president on what it's all for.

What this has always been about, this has been about capital markets onchain. Uh and so what you see with tokenization is you see the process of actually bringing traditional uh uh assets from the traditional finance world on chain making them accessible to who? To literally 5 and a half billion people on the internet capital markets onchain. Basically she means the stuff Wall Street trades moving onto networks like Salana. And on Wall Street that car swap still runs through a chain of middlemen which the foundation says ties money up for one to two days.

Salana's version does it in one go. The asset and the cash together or neither done in seconds. And JP Morgan gave its input on how the banks like to settle, which tells you who it's for. The same week, Salana's block started landing twice as often as they did when it launched. So, it's quicker again.

And Samsung said USDC, a digital dollar, is coming to Samsung wallet on Salana for 82 million US Galaxy phones from the last week of October. For me, that's a big week. What I'd actually check though is how my own coins are held because I've had money stuck somewhere and I couldn't get at it. And it's not a nice feeling. Welcome back to Bull Runners, guys.

It's me, a coffee, and a pile of bank announcements. And it's my opinion, so tell me yours in the comments. I'll give you the good and the bits that sting because it's your money. Picture this. It's November 2022 and the boss of one of the biggest exchanges in the world posts assets are fine.

The next day, you open the app, hit withdraw, and nothing happens. That was FTX and the exchange had decided on its own that your coins weren't going anywhere. new rules overnight. And doing this on your own is hard because there's so much noise. Nobody hands you a plan and the big players never wait for us. When I was starting out, my own bank stopped me putting money into my crypto wallets until they'd spoken to me about the risks.

Somebody else decided when I got to move my own money. And a lot of us have had the same. And that's exactly why that first link's there. Instead of guessing on your own, you've got a team reading this stuff every week. And the whole point is your own keys and a plan.

It starts with a short free video and a free chat about your own coins. I'll tell you properly at the end, but if this is already hitting home, have a look. Now, here's why the banks are so fussy. Their nightmare is handing over their side of a deal and the other side never coming back with theirs. They've even got a name for it, counterparty risk, which just means the risk that whoever's on the other end lets you down.

Look how JP Morgan's first deal on Salana was set up last December. A $50 million debt deal it arranged for a crypto firm called Galaxy. This is Galaxy talking about it a week later. This is very cool. Now, one thing that is that needs to be said here is all of the structuring on chain.

On top of it was the same old structure, right? So, if if everything went off chain, like yeah, there would be some disruption because it wasn't part of the deal, but like there was still tradi securities issued. JP Morgan as the custodian still held those Trafi securities in a custodial relationship.

JP Morgan as the custodian. So the token was brand new but underneath it the old securities were still held by a big bank for safekeeping. And that's the sort of thing the research team digs out for members by the way and that's what gets me because the banks turn up with a custodian, a team and a plan before they move a dollar. Most of us bought our Salana on a exchange off a headline and it's still there with the exchange holding the keys and no plan for when we'd ever move it. Nobody ever showed us any other way to hold it, did they?

And we've seen what that costs. FTX's sister firm Alamda was an early backer of Salana. So when the exchange froze, Salana fell more than 40% in a single day and that one hurt. three years on JP Morgan arranging deals on it, right? Which is some turnaround. So, the banks have sorted counterparty risk for themselves.

And what I'd want to know is whether we've sorted it for our own bags. Now, the bit that stings. The same week this launch, money came out of the Salana ETF's 3 days running, about $12 million going by Soo Val's daily numbers. And JP Morgan's own man said last December, "This won't happen overnight." Well, let's hear his case.

Um, I think it's some distance before full-scale regulated financial markets can operate at scale on public blockchains. There's some questions to ask uh to answer there, but we should absolutely be going that way. And there's a few reasons. One is, you know, as we understand the sort of resilience components and sort of how these things get connected, you know, there's a there's an argument to made about sort of more accessibility. So, that's interesting.

More accessibility brings with more risk. to answer those questions and doing things helps you answer those properly.

Some distance, he said. And when this launched, the foundation was still inviting banks in as counterparties with with none saying yet that it put live trades through it. Now, did you catch the end of that? We should absolutely be going that way. That's the part that matters to us.

And $12 million is small next to that bank putting its name to the announcement at all. So, I reckon the direction's real. It just might take longer than people want. And here's the line I promised you at the very bottom of the announcement. This is it.

Salana's own announcement says JP Morgan's involvement was limited to providing input regarding security settlement practices. And it shouldn't be read as JP Morgan designing it, operating it, approving it, or endorsing it. So no, JP Morgan didn't build Salana DVP. It doesn't run it, and it isn't backing Salana. So I'm not going to dress it up as that.

But look at what its head of digital asset market said. The whole point was a standard the big money can use at scale in his words without introducing settlement risk or counterparty exposure. Counterparty exposure is just the banker's way of saying the other side lets you down. And that's the one thing they wanted gone. Search Salano DVP JP Morgan on your phone right now and read that bottom paragraph yourself because it's the kind of line you'd skim straight past.

If you found it, stick Salana in the comments. And this thing's already live. It's been through outside security checks. The foundation says it's ready for real money and anyone can use it free. What it's waiting on is the banks actually turning up and using it. which brings it back to our backs because counterparty exposure is the exact thing most of us carry without knowing it.

And here's one for free. Open whatever app your salon is on. If you log in with an email and a password, that usually means the exchange holds the keys, not you. And that's how FTX customers held theirs right up until that day in November 2022. Listen to one of them.

And for many customers, it's too late to withdraw their funds. I requested all withdrawals of all my assets, but none of them completed. None of the withdrawals ever came through.

You're just helpless. Like, what do I do? I was just in so much shock that that could happen.

I had a huge amount of money obviously on the exchange. And I thought, okay, there's something wrong. How how can why would he stop withdrawals? Because exchanges, if everyone takes the money out, all that's what should be left is the exchange assets. I thought this seriously wrong.

I felt really sick. none of the withdrawals ever came through. That's counterparty exposure in one sentence. And the banks made sure they'd never carry it. There's a whole list of checks like that on where your coins sit and who gets to say no when you want to move them. And that's what the team go through with our members.

Remember that pause switch from the start. I'll come back to it in a minute because it matters more than it sounds. And stick around because at the very end, I'll give you the date that I've got in the diary for all of this. Right, that pause switch. On the list of things Salana DVP supports, there's plausible tokens and something called a permanent delegate.

Pausible means whoever issued a token can freeze it. And permanent delegate means they can move it out of a wallet without asking. That sounds horrible, but it's there for regulated issuers, the people putting things like company shares on chain. Salana itself had no pause button like that, and nobody can freeze a Salana in your own wallet. But if your Salana is on an exchange, the exchange is the pause button and FTX showed us how fast it gets pressed.

The next step is the banks actually using it and the rules are heading that way. Here's the head of the SEC, America's markets regulator at the end of September.

And then secondly, with respect to uh trading of tokenized securities, we've come out with an innovation exemption we're calling it. So think of a sandbox with a controlled type of environment where companies issue tokenized securities that represent the um underlying uh rights and privileges of the security. So it's trading the actual security onchain.

Trading the actual security on chain. That's the regulator saying where this is heading and Salana's already built to speed. Listen to the bloke who started it. So in any given period 10 years from now cheaper faster is going to be better than slower and more expensive. So that that's always going to be true.

So I think focusing on that makes something cheaper and faster with you know inc high reliability and and all these other factors that clearly are important now were important last year will be important next year.

Cheaper and faster wins he reckons and it's hard to argue with. And that same week, a company called Securitize put US shares on Salana, backed one for one by actual shares settling in USDC. Some of you were going, "Fine, I'll wait till the bank actually puts a live trade through it and sort my bag out then." But the FTX customers were waiting, too. They weren't waiting on a price. They were waiting on a withdrawal.

And by the time they knew, the button had already stopped working. The bank sorted their counterparty exposure before the first trade. That's what the team helps members do with their own coins. And here's why the big money wants all this. This is Franklin Templeton, one of the two buyers in JP Morgan Salana.

The token is awake. The traditional asset is asleep. It's a better asset. But the thing is,

the token is awake. The big money wants things that can move the second something happens. And my honest take, Salana DVP is the real deal. And JP Morgan's input is a big nod, even with no bank trading on it yet. And if they want their tokens awake, ours should be too on keys we actually hold.

So quick recap. JP Morgan gave its input on how the big money settles on Salana and the rule it cared about was never trusting the other side. Salana's own small print says the bank didn't build it or back it. And most of our coins are still on an exchange that can press pause whenever it likes. And that leaves you and me with three decisions.

Who holds the keys to our Salana right now, us or an exchange? Is it doing anything while we wait for the banks to start trading, or is it just sat there? And next time a big bank headline lands the same week the ETF money walks out, what's our plan for getting in and out? Because if we haven't decided, we'll decide off a headline on the date like we always do. So, for me, the time to sort that is before the first bank puts a live trade through, not after.

Most of us leave our coins wherever we bought them and trust the door be open when we need it. Not because we're dared. Nobody ever gave us a plan for it. And I'm not just saying that. That was me.

A few years back, I passed a funded challenge with a trading firm, right? Which is where a firm backs you with its own money once you pass its test. It was 100 grand in this case. Then they wouldn't pay out around 30 grand. It was months of emails.

And I thought that money was gone. It did land in the end, but I've never gone near them since. But I'll never forget knowing it was mine while somebody else set the rules on when I'd see it. And I bet some of you have been there. Sorting it is easy once somebody shows you.

And that's what our private intelligence network is for, guys. Most of what I bring you on this channel comes from inside of it. And in there, it goes a lot deeper than I can in one video. Basically, the research team digs into where this is heading and members hear it first. They'll help you get it on your own key.

So, no bank or exchange can freeze it the way FTX froze its customers. They'll show you how to get what you're already holding earning instead of just sat there. And every week there's a call where the team walks you through how they're reading it and when they're buying and taking profit themselves, so you're not guessing. And everybody in there is holding a decent bag and in it for the long haul, same as you and me. Honestly, I'd be a lot further along myself had we started Alcoin Pro sooner.

So, if you've opened your app earlier and it was an email and a password to get in, that's what the 15 minutes is for. The banks wanted to know where every leg of their deal sat before they'd move. One of our members, Tom, wanted the same for his own coins. This is a real message he sent in. Tom wanted real structure, not another signal group.

He went step by step with his coach through wallets, a hardware wallet, and organizing everything so he actually knows what he holds and where it sits. Now he says he's more confident moving funds on chain than where he started. Results like Tom's are exceptional and they didn't happen by sitting still. So be exceptional. Look, you could leave it and hope the timing works out or try and piece it together yourself at midnight reading bank press releases like we all have.

I'd rather you just spend 15 minutes with the team and came away with a plan for your bag. It's free and worst case scenario, you come away clearer. So here's what I do. Tap more under this video and hit the very first link. Watch a short free briefing, then book your free 15-minute call with someone on the team right underneath it.

They'll go through where you're at with your crypto and tell you straight whether it's a fit for you. And that's the first link. Pause this, do it now, and come straight back. I'll be right here. It's built for people holding $50,000 or more in crypto.

And if that's not you yet, that's absolutely fine. Keep watching these videos with me. They're up every day and they're free. and we'll keep learning this together. And look, none of this is financial advice, guys. It's my take after a lot of reading.

Crypto carries risk, and the past doesn't promise the future, and a member's results isn't a promise of yours. Your keys stay with you. The team never needs them, and that's the point. So, stick with me, subscribe, and there's a new one every day. Tell me in the comments, do the bank start trading on this, or does this just sit there for a year?

And keep an eye on the last week of October when Samsung switches on its wallets. Then Breakpoint, Salana's big conference is in London from the 15th of November. If a bank's going to say it's putting live trades through this, that's the next big room I'd expect to hear it. Thanks for watching, guys. Keep your head stack with purpose and I'll keep you posted.

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