Apollo’s Tokenized Credit Fund to Launch on Solana’s DeFi Platform
A tokenized version of Apollo's private credit fund will launch on Solana's DeFi ecosystem. Key details include:
- The Apollo Diversified Credit Securitize Fund (ACRED) token aims to be the first for on-chain borrowing on Solana.
- Developed by Kamino Finance with support from Securitize and Steakhouse Financial, the launch is pending an audit.
- Launched in January, ACRED provides exposure to Apollo’s private credit strategies under a regulated framework.
- It will be the first token using Securitize’s sToken standard on Solana, with more assets expected to follow.
- Real-world asset (RWA) tokenization is gaining traction, allowing traditional instruments to integrate into DeFi for improved access and transparency.
- Currently, Solana hosts $330 million in RWAs compared to its nearly $9 billion DeFi market size, significantly trailing Ethereum's $7 billion RWA market.
- Kamino’s Multiply product will enable users to leverage ACRED for yield strategies via smart contracts.
Industry leaders view this initiative as a potential tipping point for RWA adoption on Solana, amidst growing institutional interest.