Anchorage Digital is working with Kamino and Solana Company to roll out a structure that will allow institutions to borrow against the deployed Solana without taking assets out of regulated custody, potentially addressing a key friction between traditional financial markets and decentralized credit markets.
In an announcement Friday, Anchorage said the initiative is expanding its Atlas collateral management platform by integrating with Kamino, a Solana-based decentralized lending protocol.
The effort is being conducted in partnership with Solana Company, a publicly traded Solana ($SOL) treasury created in collaboration with Pantera Capital and Summer Capital.
According to the structure, institutions can use native staking $SOL as collateral for onchain loans, while assets are held at Anchorage Digital Bank, a federally chartered crypto bank. That means investors can continue to earn staking rewards while accessing liquidity through Kamino’s credit markets.
Anchorage acts as collateral manager, overseeing loan-to-value ratios, margin requirements and, if necessary, liquidations. Because the collateral remains in separate custody, institutions do not need to place assets in smart contracts, a requirement that has historically seen limited participation from regulated entities.
Solana Company is the second largest $SOL-based treasury for digital assets, with 2.3 million $SOL. Source: Coin gecko
Related: Solana Treasuries are sitting on more than $1.5 billion in paper $SOL to lose
DeFi law is at stake
The integration between Anchorage Digital, Kamino and Solana Company underlines the growing institutional interest in decentralized finance. However, that momentum is unfolding against an uncertain regulatory backdrop in the United States, where lawmakers are still debating how to oversee digital assets and DeFi platforms.
At the center of the debate is the proposed CLARITY Act, which aims to establish clearer jurisdictional boundaries and regulatory standards for digital assets, including DeFi protocols.
While the bill is intended to reduce uncertainty for market participants, some DeFi proponents argue that it does not address how decentralized protocols, developers and governance structures should be treated under the law.
Source: Yahoo Finance
Industry groups have raised concerns that previous draft texts, including the amendments introduced in January, do not sufficiently distinguish between centralized intermediaries and decentralized systems.
Amid the impasse over the future of the CLARITY Act, the Trump administration convened a meeting with industry representatives earlier this month to break the impasse and gather feedback on outstanding provisions related to DeFi oversight and market structure.
Related: Who gets the proceeds? CLARITY Act becomes a battle for onchain dollars