A tokenized version of a large private credit fund managed by Apollo will arrive at Solana’s
SOL$ 164.84
Decentralized Finance (Defi) ecosystem, which brings traditional financial instruments closer to the fast -growing network.
The launch, orchestrated by Credit Platform Kamino Finance with support from Tokenization Specialist Securitize and Defi Risk Advisor Steakhouse Financial, is intended to make the Diversity Credit Securitize Fund (ACRED) of the Apollo the first of its kind that is available for lending and leprosy functioning. The debut of the token is awaiting the completion of an audit, Kamino said.
The Acred -Token, launched in January, offers exposure to Apollo’s private credit strategies and is issued under the regulated token framework of Securitize. Acred will also be the first token on Solana with the help of Securitize’s firing Standard, with more assets that are expected to follow later, Securitize said.
The product underlines a growing appetite in crypto for Real-World Asset (RWA) tokenization. RWAS – Traditional instruments such as funds, bonds or real estate – are brought to blockchain rails to reduce friction in investing, improve access and transparency and to enable programmable use in Defi protocols. In practice, this means that investors can use RWAS as collateral to borrow, deliver farmers or to connect to automated investment strategies.
“The value of tokenization really plays in the game when these assets are integrated in Defi, and new products and strategies are being developed,” says Reid Simon, head of Defi and credit solutions at Securitize.
Despite the fast-growing Defi market from Solana, RWAs still have to take off the chain. According to RWA.XYZ, Solana is organizing $ 330 million in RWAS, small compared to the market size of almost $ 9 billion from the network. It also follows the Rival Layer-1 Network Ethereum’s $ 7 billion Real-World Activamarkt. But with big players in tokenization that come in, backers from the launch see this as a turning point.
“Solana has experienced explosive consumer growth in recent years, but under the surface we see enormous interest from institutions and wealth expenditure,” said Marius Ciubotariu, co-founder of Kamino, “Finally, the industry is in a position to not only bring these assets to chains, but to offer real user issues.”
Via Kamin’s Multipy Products, users can use ACRED for yield strategies-the asset automatic loop to increase exposure, while collateral and loan levels are managed via Solana-Native Clever Contracts. That is a similar offer if what Gauntlet introduced on Polygon at the end of April.
“Resulting in credit assets outside the chain in a compound way is the kind of long-term investment that we think can help catalyze the further growth of Defi in Solana,” said ADCV, co-founder of Steakhouse Financial.
