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DeFi · 1 min read

Kamino Enables USDC Borrowing Against Backpack Tokenized Equities

Borrowers can access liquidity at up to 40% loan-to-value, with pricing frozen at the last close outside U.S. trading hours.

Editorial oversight: Julian Mercer, Chief Editor
Neutral
$USDC $1.00 0.0%

At a glance

What happened
Kamino enabled USDC loans against Backpack tokenized stocks at up to 40% collateral value on Oct. 28.
Why it matters
The market holds its last equity price outside U.S. trading sessions to manage off-hours pricing for collateralized loans.
Who is affected
Backpack tokenized equity holders and Kamino USDC lenders.
What's next
No next step announced.
Primary source
thedefiant.io: Kamino Opens USDC Loans Against Backpack Tokenized Stocks

Key points

  • Kamino has launched USDC borrowing markets backed by Backpack tokenized stocks.
  • Borrowers can access stablecoin loans up to 40% of their deposited collateral value.
  • The market fixes the last equity price outside regular U.S. trading hours.

DeFi lending protocol Kamino Finance has enabled loans in $USDC backed by Backpack tokenized stocks on Oct. 28 1. Under the parameters established for the market, borrowers can draw stablecoin liquidity of up to 40% of the value of their deposited tokenized equity collateral 1.

To accommodate traditional market trading schedules, the Kamino lending pool is structured to hold the asset's last equity price whenever markets are outside standard U.S. trading sessions 1. This pricing mechanism freezes the valuation of the underlying tokenized shares during off-hours, establishing fixed collateral pricing until traditional U.S. exchanges resume active trading 1.

Equity Tokenization Expands Across Decentralized Markets

The activation reflects ongoing integration across decentralized finance ecosystems to connect equity-backed digital assets directly into collateral pools 1. Platforms across crypto have increasingly targeted real-world asset collateral, mirroring initiatives such as when Morpho Lists Robinhood Stock Tokens as Collateral for USDG Loans and deployments noted when Sunrise Brings Backpack's Tokenized Meta Shares to Solana.

At the time of writing, stablecoin $USDC traded at parity at $1.00 as decentralized money markets continue listing alternative collateral types. Further details regarding liquidation thresholds, secondary parameters, or additional supported equities have not been disclosed 1.

Sources

  1. [1] Kamino Opens USDC Loans Against Backpack Tokenized Stocks — thedefiant.io, October 28, 2026

Written by Basis Desk's newsroom system from the primary sources above and machine-verified against them before publication. Market figures marked "at the time of writing" come from live exchange data. Report an error: corrections@basisdesk.news · corrections policy.

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