Solana becomes the first major public blockchain to carry Moody’s credit ratings in machine-readable form through Alphaledger.
Solana (SOL) has become the first major public, permissionless blockchain to carry Moody's Ratings credit assessments in a machine-readable format. The milestone comes through a new integration between Moody's Ratings and Alphaledger, a tokenization platform built for institutional fixed-income assets, announced Wednesday
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Issuers of tokenized bonds and other fixed-income securities on Alphaledger's platform can now have Moody's credit ratings embedded directly onto the Solana blockchain. Nick Ducoff, head of institutional growth at the Solana Foundation, said the integration adds transparency and accessibility for tokenized real-world assets (RWAs) on the network.
Built on a 2025 Devnet Pilot
The deployment builds on a proof-of-concept Moody's completed on Solana's devnet in June 2025 before scaling to the live network. It follows a separate rollout in March 2026 on the Canton Network, a permissioned institutional blockchain, where Moody's became the first credit rating agency capable of delivering ratings on an institutional-grade blockchain.
Rajeev Bamra, head of digital economy strategy at Moody's Ratings, said investors need independent credit analysis wherever they transact, and that this increasingly means on-chain. Alphaledger CEO Manish Dutta said the integration gives on-chain markets the same trusted credit signal used in traditional fixed income markets, removing the need for a separate intermediary lookup.
Tokenized Assets Could Hit $18.9T by 2033
The integration arrives as tokenization, the process of issuing blockchain-based versions of traditional assets, expands rapidly across finance. Boston Consulting Group and Ripple estimate the tokenized asset market could reach $18.9 trillion by 2033, with asset managers such as BlackRock, Franklin Templeton, and Apollo already running tokenized funds and credit products.
Embedding ratings directly into tokenized securities lets investors and applications access credit assessments without relying on separate databases or terminals, a gap Moody's has aimed to close since launching its Token Integration Engine (TIE).
Solana has drawn other institutional infrastructure in recent periods. Payments firm Western Union launched a US dollar stablecoin on the network, while UK-based blockchain developer R3 partnered with the Solana Foundation last year to bring tokenized real-world assets from its Corda platform onto Solana, an ecosystem that includes HSBC, Bank of America, the Bank of Italy, and the Monetary Authority of Singapore. Moody's has said it plans to keep expanding its TIE across additional networks and instrument types.
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