Definition
Delivery versus payment (DvP) is settlement where the asset and payment move together. A trade completes only if both sides deliver. This removes the delivery risk that one counterparty sends tokens, securities, or cash while the other side fails to complete its leg. In digital-asset markets, DvP can be coordinated through custody workflows, tokenized-securities infrastructure, and atomic settlement rails so the asset leg and payment leg are linked instead of handled as separate bilateral transfers.
Example
A tokenized security trade matches between a buyer and seller. The settlement workflow verifies that the seller controls the tokens and the buyer has the payment, then releases both legs together. If either side is missing, neither leg settles.
How Liquid Mercury Handles This
Mercury RWA pairs marketplace execution with embedded KYC/AML checks, programmable transfer restrictions, BitGo custody integration, and delivery-versus-payment settlement so tokenized-asset trades can move from match to settlement through one coordinated workflow.