Alchemy Expands to the Solana Ecosystem

The company, valued at $10.2 billion, will support developers who seek to build on the chain.

AccessTimeIconJun 2, 2022 at 12:00 p.m. UTC
Updated May 11, 2023 at 3:45 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Alchemy is expanding its services to the Solana ecosystem, the Web 3 developer platform said on Thursday. The beta version is now live for users to sign up and will be released to the wider public in the coming weeks, according to a press release.

Popular Web 3 products, such as OpenSea, Aave and 0x, were developed through Alchemy. Product manager Michael Garland told CoinDesk that Alchemy is excited to cater to the “existing, thriving, very passionate ecosystem of developers that have grown up natively on Solana.”

“We haven't been able to help them out with our existing tooling,” he said, noting the new platform will help developers save time and accelerate product development. “I’m super excited about making the lives of Solana developers much easier,” Garland added.

Though Alchemy introduced Ethereum scaling solutions only last June, Solana Labs Head of Communications Austin Federa said the chain’s efficiency makes it a good platform for developers looking to take their products to Web 3 from Web 2.

“The hope of Solana” is to move “from a world where transactions are scarce and expensive, and slow, to a world where transactions are fast, cheap and readily available,” Federa told CoinDesk.

Alchemy raised $200 million in a Series C-1 funding round in February at a valuation of $10.2 billion. The platform has “tens of thousands” of developers, according to Garland, but he did not specify a number.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Cam Thompson

Cam Thompson was a news reporter at CoinDesk.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.