Institutions, issuers and lenders get the financing terms credit markets run on: a known cost of capital and a defined term.

Kamino, the largest platform for tokenized real-world assets on-chain, today launched Kamino Fixed Rates. It lets investors borrow against tokenized assets at a rate that stays fixed for a set term. The first fixed-rate markets are for AUTO, a token minted through Hastra, a DeFi protocol built on Solana. AUTO holders have exposure to consumer auto-loan financing through Figure’s Democratized Prime marketplace.

Private markets have grown from $6.6 trillion in 2019 to $11.7 trillion in 2024, up 79% in five years, according to Preqin, and institutions are bringing more of those assets on-chain. But most on-chain loans still have variable rates and no set end date, so a borrower can't know what a loan will cost next month. Institutions plan around a known cost of capital and a defined term. Kamino Fixed Rates gives them both.

"Some borrowers want variable rates and others want fixed, just like in the mortgage market or securities lending. Fixed rates give them stability and the ability to forecast, and we believe that's what will make this product scale. It shows this market continues to mature, and that new products are being built to support it," said Michael Weisz, CEO of Kamino.

Built for Borrowers, Issuers and Lenders

How It Works

AUTO holders can borrow against their AUTO at a fixed rate, in wYLDS, a cross-chain yield-bearing receipt token minted through the Hastra protocol. The first market opened on September 21 at 5.3% with 30-day terms, and two more have since opened at 5.75% and 6%. Loans renew automatically at the end of each term if lending capital is available. Lenders supply that capital and earn the fixed rate.

With Kamino Multiply, holders can borrow and buy more AUTO in one step. They can leverage their position up to 4.5 times. If AUTO earns more than the borrowing rate, they keep the difference. If AUTO falls in value, the position can be sold off, and operates like a margin loan. These are the first markets. Borrowers took out more than $10 million in fixed-rate loans in the first 72 hours, and more than $40 million in the first two weeks.

An Operating Record, Not A Pilot

Fixed Rates launches into more than $750 million in real-world asset markets and more than $500 million in Kamino Vaults capital that can now lend at fixed rates. Kamino has originated more than $21 billion in loans and processed more than $650 billion on its lending platform, with $0 bad debt to users, as of October 20, 2026. Forward Industries (NASDAQ:FWDI), Galaxy (NASDAQ:GLXY) and Figure (NASDAQ:FIGR) already use Kamino as live collateral and credit infrastructure. AUTO is the first asset with fixed rates, and Kamino expects more assets and partners to follow.

About Kamino

Kamino is the largest credit protocol on Solana and the largest credit platform for real-world assets on-chain, with more than $650 billion in cumulative transaction volume and more than $20 billion in loans originated with zero bad debt across every market cycle. The protocol has never experienced a hack or security incident and has undergone 30+ independent audits and four formal verifications. Kamino's infrastructure is fully open source and is used by institutional participants including licensed exchanges, federally chartered digital asset banks, and publicly listed companies including Nasdaq-listed Forward Industries and Galaxy.

To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on X @Kamino, or our website at www.kamino.com.

Disclaimer: This announcement is for information only and is not an offer, solicitation, or recommendation to buy, sell, borrow, or lend any digital asset, security, or financial product, nor is it investment, legal, or tax advice. Access to Kamino Fixed Rates and related markets is subject to eligibility requirements and is not available in all jurisdictions. Borrowing, lending, and leveraged positions in digital assets involve significant risk, including liquidation and total loss. Fixed rates apply only for the stated term, and renewal is not guaranteed. Third-party names do not imply endorsement. This release contains forward-looking statements that involve risks and uncertainties, and actual results may differ materially.

Media Contact

CapV Strategies

Lucy Peng

lucy@capvstrategies.com

kamino@capvstrategies.com