Kamino will be onboarding Apollo’s Diversified Credit Securitize Fund (ACRED), marking the first tokenized credit fund to be integrated into Solana lending.
Developed in partnership with Steakhouse Financial and Securitize, this integration will underpin a levered-yield strategy powered by Kamino’s Multiply product, and centered around ACRED.
“Solana has experienced explosive consumer growth in recent years, but below the surface we are seeing enormous interest from institutions and asset issuers,” said Marius Ciubotariu, cofounder at Kamino, “Finally, the industry is in a position to not only bring these assets on-chain, but to provide genuine use-cases via secure on-chain credit platforms like Kamino. ”
Structured for compliance and on-chain interoperability via Securitize’s regulated tokenization stack, ACRED represents fractionalized exposure to Apollo’s private credit strategies, and has grown to over $71M in circulation since its January launch.
A Milestone for Institutional Credit on Solana
At the time of writing, Solana has $330M in real-world assets issued on the chain according to data from RWA.xyz. Relative to the ~$9B size of its DeFi ecosystem, the real-world asset space has considerable room for growth on the chain.
This collaboration represents a significant step in aligning institutional capital with Solana’s high-performance DeFi infrastructure, and Kamino’s battle-tested smart contract architecture. With a fully open-source, formally verified codebase, as well as 15 external audits, Kamino’s platform has proven extremely resilient over time.
Beyond smart contract resilience alone, Kamino facilitates substantial economic activity on-chain. With over $4B AUM and $1.5B active loans, no platform is better positioned to facilitate the growth of real-world assets and RWA credit on Solana.
ACRED will be the first token issued on Solana via the Securitize sToken architecture. Following this launch, a wide range of real-world assets are expected to be rolled out via Securitize and Kamino.
“The value of tokenization really comes into play when these assets are integrated into DeFi, and new products and strategies are developed around them,” says Reid Simon, head of DeFi and credit solutions at Securitize.
From TradFi to On-Chain: Chainlink, Securitize and Steakhouse Lead the Charge
Apollo Global Management is a cornerstone of global finance, and its private credit fund is a benchmark for scale, stability, and sophistication in traditional finance.
Via ACRED, Apollo’s credit strategies are made available to on-chain participants, where it can be used not only for passive exposure, but deployed into composable financial strategies.
Working closely with Securitize, Steakhouse Financial—a seasoned DeFi risk and advisory firm—is supporting Kamino’s integration of ACRED, contributing risk and advisory insights.
“One of the driving motivations for our work, which is what has made us an industry leader in the segment, is harmonizing the crypto economy with the real economy,” said Adrian Cachinero Vasiljevic, co-founder of Steakhouse Financial. “To us, they are two sides of the same coin. Building on off-chain credit assets in a composable way is the sort of long-term investment we believe can help catalyze further growth of DeFi in Solana. Ultimately, the expansion of DeFi across many crypto ecosystems lends itself well to grow the industry as a whole and create more cross-chain opportunities for capital to flow in and out of Solana. This first pilot integration puts into gear the engine built by players like Securitize, Apollo’s storied credit fund and Kamino’s technical infrastructure. Combining these elements in a way that creates new and real value for DeFi users is what we do best.”
Building DeFi Automations for Real-World Assets
Shortly after the integration, Kamino’s Multiply product will power a leveraged-yield strategy to give users boosted exposure to ACRED. With over $1B AUM, Kamino Multiply is one of the largest leverage products in DeFi.
Multiply enables a one-click “loop”, where a user simply deposits a yield-bearing asset, eg. ACRED, and the system automatically borrows USDC, purchases more ACRED, and repeats the process to the user’s desired leverage level. Although DeFi looping products exist elsewhere, Kamino Multiply has grown immensely popular amongst DeFi users for its ease of use and transparent risk analytics.
The launch of an ACRED leverage product serves as a significant milestone, and reinforces Kamino’s broader ambition: to become the dominant lending and leverage infrastructure across Solana—and eventually, across chains—by building a financial platform that institutions can trust.
“The future of DeFi is not about abandoning financial best practices—it’s about reimagining them in an open, composable, and trust-minimized architecture,” said Thomas Short, cofounder at Kamino. “The ACRED listing is a powerful example of how we can bring real-world capital into this framework, responsibly.”