Solana reveals attestation service to supercharge internet capital markets

Solana Foundation introduced the Solana Attestation Service on May 23, positioning the protocol as a trust layer for what the network’s backers call “internet capital markets.”

The open-source service lets approved issuers bind off-chain credentials, such as know-your-customer results, geographic eligibility, or accreditation status, to a user’s wallet address without exposing personal data on-chain.

Attestations live inside the wallet, travel across applications, and are verified with a software development kit call.

According to the announcement, the design removes repetitive onboarding checks and eliminates the need for each project to store sensitive identity records.

Portable credentials aim to streamline compliance

The Foundation said developers can deploy Solana Attestation Service to meet regulatory obligations, gate region-specific offerings, or build reputation systems that deter Sybil attacks.

Investors can hold “KYC passports” once and reuse them for future token sales, gaming studios can issue badges linked to provable player histories, and real-world asset platforms can confirm that buyers meet accreditation thresholds before releasing digitally wrapped securities.

Identity providers in Solana’s ecosystem have already integrated the new service. Additionally, infrastructure firms plan to ingest attestation data for risk scoring and transaction monitoring.

The Solana Identity Group developed the protocol. Group members said they would publish additional identity standards and invite other teams to contribute through open-source repositories.

Rise of internet capital markets

Solana Attestation Service arrives as the Foundation and independent builders push the concept of internet capital markets.

The concept comprises a model where builders can seek funding decentralized through tokens. These tokens act as equities for the builder’s product, granting the right to receive returns.

The main venue for this new narrative is the Believe app, which lets builders present their ventures and seek funding through posts on X. Australian technology entrepreneur Benjamin Pasternak and TBH app founder Nikita Bier recently endorsed the application.

As a result, the launchpad’s native token, LAUNCHCOIN, soared 4,500% from May 11 to May 14. At the time of writing, LAUNCHCOIN has held an upside of 2,800% since May 11.

Solana’s new attestation service is central to this new crypto sector. It lets decentralized applications confirm legal eligibility without re-creating legacy databases.

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