Kamino launches Backpack Market for borrowing USDC against tokenized U.S. stocks
Solana-based lending platform Kamino has launched the Backpack Market, enabling eligible users to borrow USDC against tokenized U.S. stocks and ETFs backed 1:1 by underlying shares.
Kamino has rolled out the Backpack Market on Solana, allowing users to borrow USDC against tokenized U.S. stocks and exchange-traded funds issued by Backpack Securities, according to reporting by SolanaFloor and Crypto Banter. The integration allows investors to tap liquidity without selling off their stock positions.[2][3][1]
The collateral tokens are backed 1:1 by real U.S.-listed shares, with Crypto Briefing reporting that eligible assets include tokenized shares of MU, SKHY, SPCX, and SNDK. To manage exposure, the Backpack Market functions as an isolated lending pool operating under its own risk parameters, according to Crypto Banter. Kamino currently stands as the largest onchain lending protocol for tokenized equities, having already accumulated around $50 million supplied to the platform.[1][3]
Key facts
- Kamino launched the Backpack Market to allow users to borrow USDC against Backpack Securities' tokenized U.S. stocks and ETFs.
- The tokenized equities on Solana are backed 1:1 by real underlying U.S.-listed securities.
- Eligible tokenized collateral includes shares of MU, SKHY, SPCX, and SNDK.
- The Backpack Market is isolated and operates with its own specific risk parameters.
- Kamino is the largest onchain lending protocol for tokenized equities, with roughly $50 million already supplied.
Sources · 3 sources
- CB
Crypto Briefing@Crypto_BriefingPost on X ·
📈NEW: Backpack partners with Kamino to let eligible users borrow USDC against tokenized shares of $MU, $SKHY, $SPCX and $SNDK on Solana. The stocks are backed 1:1 by underlying securities, allowing investors to access liquidity without selling their exposure. https://t.co/T8WJ6hdMYA
Open source - SO
SolanaFloor@SolanaFloorPost on X ·
NEW: @kamino launches the @Backpack Market, allowing users to borrow USDC against Backpack Securities’ tokenized U.S. stocks and ETFs. https://t.co/TV7oxJWd2F
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨BACKPACK AND KAMINO LAUNCH COLLATERAL FOR TOKENIZED U.S. STOCKS! @Backpack Securities tokenized equities are now live as collateral in the Backpack Market on @kamino. Eligible holders can borrow USDC against tokens backed 1:1 by real U.S.-listed shares on Solana. Kamino is the largest onchain lending protocol for tokenized equities, with around $50 million already supplied. The market is isolated with its own risk parameters.
Open source