Project Harmonia Opens RFP for Tokenized Funds to Enter Allfunds' €1.9T Distribution Network on Solana

The application window for Project Harmonia opened September 16–17, 2026, giving tokenized fund issuers on Solana a path into Allfunds' institutional distribution network for the first time. According to the official RFP portal, Allfunds connects more than 3,300 asset managers and financial institutions and administered approximately €1.9 trillion in assets as of June 30, 2026, making it the largest fund distribution network in the world.

Project Harmonia is a joint initiative between Allfunds Blockchain and the Solana Foundation, first announced in June. The request for proposals formalizes that partnership into a structured admission process: qualified tokenized funds gain access to an institutional network that ordinarily requires a separate go-to-market effort to enter. The connection runs in both directions: funds already on Allfunds also become accessible on Solana.

Two Tracks, No Admission Fees

The program runs two tracks. Track A accepts funds already live and operational on Solana at the time of submission. Track B accepts funds still in development or awaiting regulatory approval, with rolling admission over six to twelve months, provided applicants include a credible Solana deployment roadmap.

No admission fees apply to either track. Issuers may submit multiple distinct funds independently, and tokenization platforms may apply on behalf of multiple issuers.

Eligible applicants include issuers, distributors, and ecosystem providers. The program prioritizes applicants domiciled in Luxembourg, Ireland, France, Germany, Spain, and Italy within the EU/EEA, as well as the United Kingdom, Switzerland, Singapore, and the Middle East. Exposures linked to FATF high-risk jurisdictions or broadly sanctioned countries are ineligible.

PDARF Assessment and Admission Committee

Every applicant is independently evaluated by Particula Ratings under its Particula Digital Asset Risk Framework (PDARF). The framework assesses applications across eight dimensions: fund and domicile eligibility, regulatory authorization, target jurisdiction and investor eligibility, disclosure standards, fund structure and investor protections, liquidity profile, operational controls, and technical Solana implementation.

After Particula presents ratings, the Admission Committee issues final decisions. The Solana Foundation chairs the committee; Allfunds participates as observer; ioBuilders, whose Asseto platform provides the technical integration layer for issuance and lifecycle management, contributes technical input.

Applications require corporate formation documents, audited financial statements, legal opinions, regulatory authorizations, smart contract audits, custody agreements, proof-of-reserve attestations, and offering memoranda. Shortlisted candidates receive their PDARF ratings for potential external use, subject to Particula's approval, and all applicants receive individual feedback on strengths and areas for improvement.

Timeline: First Cohort Targeted for Q1 2027

Applications close October 24. Due diligence runs through October. Winners are announced in November 2026. The first cohort is targeted to go live on the Allfunds distribution network in Q1 2027.

Solana's Institutional RWA Position at Launch

The RFP opens as Solana hosts more than $4 billion in institutional real-world assets on-chain, per the Solana Foundation's program announcement. Solana recorded 33 billion transactions in 2025, more than every other major network combined, according to Particula Ratings' launch thread.

Applications are open at project-harmonia.com.