Community Trust ScoreLikely Real
Polychain Capital just dropped $10 million into VeryAI’s biometric venture. The funding round wrapped up March 12, and now VeryAI wants to build something pretty ambitious – a palm-scanning identity system that runs on Solana’s blockchain.
The whole thing targets crypto platforms dealing with a growing headache: AI-generated fake accounts flooding their systems. VeryAI’s approach centers on palm scanning through regular smartphones, which sounds straightforward enough but involves complex onchain verification to keep user privacy intact. The company picked Solana over other blockchains for reasons that become clear when you look at transaction costs and processing speed. Ethereum’s hefty fees pushed VeryAI away from that network after early testing in 2025, according to CEO Lisa Tran during a recent press briefing.
Not much detail yet. Launch timeline stays under wraps.
Olaf Carlson-Wee from Polychain didn’t mince words about why his firm backed VeryAI. “The potential to revolutionize identity verification in the digital space drove our decision,” he said, pointing to robust security measures becoming essential for crypto transactions. Tran echoed similar enthusiasm about partnering with Solana, calling the blockchain’s high throughput and low costs “critical factors” in their platform choice. She thinks Solana’s capabilities will handle the biometric system’s scalability needs without breaking a sweat.
The $10 million gets funneled straight into research and development. VeryAI plans to hire more engineers and blockchain specialists to speed things up.
But industry watchers aren’t all convinced. Some analysts worry about biometric adoption in crypto spaces, especially with regulatory guidelines still pretty murky for these technologies.
VeryAI didn’t just stumble into blockchain partnerships. The company tested early biometric verification versions on Ethereum-based projects throughout 2025, but those high transaction fees became a deal-breaker. Palm-scanning technology emerged as VeryAI’s focus after internal studies in late 2024 showed palm scans beat facial recognition for reliability and user comfort. The company figures this approach will draw users who don’t trust traditional biometric methods.
Major crypto exchanges haven’t signed partnership deals yet, though. Tran mentioned ongoing discussions with several leading platforms during a recent interview but wouldn’t name names. She stressed these partnerships matter for widespread system adoption. This follows earlier reporting on CoinDepo Backs Enzaro Tech with Millions.
Polychain’s investment fits their broader strategy of backing security-focused blockchain projects. The firm previously invested in a decentralized identity startup back in 2023, and VeryAI represents another bet on innovative security solutions.
Solana’s ecosystem expansion makes VeryAI’s platform choice look smart. The blockchain carved out a solid reputation for speed and efficiency, attracting tons of developers and DeFi projects by March 2026. VeryAI’s identity system should benefit from Solana’s growing user base and developer community.
And there’s more structural changes coming. Polychain gets a board seat at VeryAI as part of the funding deal, announced March 12. The move aims to tighten strategic alignment between investor and startup, giving Polychain direct insight into development decisions and progress.
VeryAI plans developer workshops starting April 2026. These global events will let blockchain developers get hands-on with the palm-scanning technology, hopefully building a community around the system and encouraging collaborative improvements.
The blockchain world is watching closely. Industry insiders think VeryAI’s success could set biometric solution standards across crypto platforms. But that missing launch date keeps partners and investors guessing about actual deployment timing. More on this topic: Crypto ATM Losses Jump 33% as.
Tran remains confident about exchange partnerships materializing soon. “We’re in active discussions with platforms that see the value in enhanced identity verification,” she said, though specifics stay locked down. The company believes their smartphone-based approach offers advantages over more invasive biometric methods that require specialized hardware.
VeryAI’s technology addresses a real problem crypto platforms face daily. Fake accounts powered by AI tools create security risks and compliance headaches for exchanges and DeFi protocols. Traditional verification methods often fall short against sophisticated AI-generated identities, making palm-scanning an intriguing alternative.
Polychain’s track record suggests they see long-term potential in VeryAI’s approach. The venture capital firm typically backs projects with clear market needs and strong technical teams. VeryAI checks both boxes with their biometric focus and Solana integration strategy.
The April workshops should provide clearer pictures of VeryAI’s technology capabilities. Developers will get firsthand experience with the palm-scanning system and integration requirements. These sessions might also reveal more about launch timelines and partnership announcements.
VeryAI hasn’t disclosed specific accuracy rates for their palm-scanning technology. The company claims superior performance compared to facial recognition systems, but concrete metrics remain private. Industry adoption will likely depend on these performance benchmarks becoming public.
