Solana Loan Agreement Kamino is further shifting its business focus towards the institutional market. The company disclosed that Kamino has been advancing the establishment of its headquarters in New York and appointed Yieldstreet, co-founder of an alternative investment platform, as Michael Weisz, to serve as CEO, responsible for facilitating the integration of its blockchain-based credit business with Wall Street institutions.
Headquartered in New York and recruiting senior executives
Kamino indicates that the company is currently searching for approximately 20,000 square feet of office space in New York and plans to continue hiring a Chief Financial Officer and a Legal Director. The company hopes to do so in order to get closer to asset management institutions, distribution platforms, and sources of institutional funds.
Weisz previously co-founded Yieldstreet. According to Kamino, the platform has accumulated over $6 billion in funds, with partners including Goldman Sachs, KKR, KKR, and Ares among others.
Lending services extended to tokenized assets
Kamino currently mainly provides lending and mortgage services for encrypted assets. With the heating up of the tokenized asset market, the company is expanding this model to financing scenarios after real assets are brought onto the blockchain, allowing investors to engage in lending or mortgage activities surrounding these related assets.
Among them, the PRIME market jointly launched by Kamino, Figure Technologies, and Hastra has used the blockchain-based home equity loans of Figure as collateral. The company stated that about 107 days after the market was launched, the deposit scale had exceeded 600 million US dollars.
Four-year trading volume exceeds $650 billion
According to Kamino, the platform has processed a total transaction volume of over $650 billion in the past four years. Currently, the protocol manages assets amounting to approximately $1.4 billion, making it one of the larger lending protocols within the Solana ecosystem.
The company also stated that Solana, a treasury company listed on NASDAQ, as well as Galaxy, a digital asset management company, are also using Kamino's infrastructure to handle tokenized equity and positions related to U.S. Treasury bonds.
In recent years, tokenization has become an important direction for traditional financial institutions to deploy blockchain technologies. As assets such as stocks, bonds, and funds are gradually brought onto the blockchain, the mortgage and financing markets that have emerged around these assets also provide new business opportunities for the DeFi protocol to collaborate with traditional financial institutions.
Additional information:Citi previously estimated that by 2030, the market size of tokenized securities could reach $5.5 trillion.
