Kamino Adds Tokenized U.S. Stocks as Collateral

Kamino, a lending protocol on Solana, has added tokenized equities from Backpack Securities, a platform for tokenized U.S. stocks, as collateral in its Backpack Market. Eligible holders can now borrow USDC against tokens backed 1:1 by U.S.-listed shares.

The initial assets include shares of Micron, SK Hynix, SpaceX, and SanDisk. Each token is backed 1:1 by an underlying share, and eligible Backpack account holders can redeem tokens for the corresponding stock under the platform’s terms. The underlying securities are held and cleared by SEC-registered firms RQD Clearing and Atomic Vault Securities.