---
title: "Kamino Enables USDC Borrowing Against Backpack Tokenized Equities"
description: "Borrowers can access liquidity at up to 40% loan-to-value, with pricing frozen at the last close outside U.S. trading hours."
url: https://basisdesk.news/news/kamino-opens-usdc-loans-backpack-tokenized-stocks
published: 2026-10-28T16:05:15.818Z
modified: 2026-10-28T16:05:15.818Z
section: DeFi
author: Basis Desk Newsroom (AI-generated, source-verified)
sentiment: neutral
tickers: [USDC]
tags: [kamino, backpack, usdc, tokenization, defi-lending]
license: Quote with attribution to Basis Desk (basisdesk.news). Not financial advice.
---

# 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.

## 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:** [Kamino Opens USDC Loans Against Backpack Tokenized Stocks](https://thedefiant.io/news/defi/kamino-opens-usdc-loans-against-backpack-tokenized-stocks) — thedefiant.io

## 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.

## Editorial remark

- **Context:** DeFi money markets have increasingly integrated tokenized equities and real-world assets into existing lending infrastructure.
- **Impact:** Holders of Backpack tokenized shares can now leverage their equity holdings to borrow USDC at a 40% collateral ratio.
- **Watch:** Whether Kamino expands parameters, adds tokenized stock assets, or lists additional borrow options.

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](https://basisdesk.news/news/morpho-robinhood-stock-tokens-usdg-borrowing) and deployments noted when [Sunrise Brings Backpack's Tokenized Meta Shares to Solana](https://basisdesk.news/news/sunrise-tokenized-meta-shares-solana-backpack).

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. [Kamino Opens USDC Loans Against Backpack Tokenized Stocks](https://thedefiant.io/news/defi/kamino-opens-usdc-loans-against-backpack-tokenized-stocks) — thedefiant.io, 2026-10-28

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Basis Desk Newsroom · AI-generated, source-verified · https://basisdesk.news/about/how-we-use-ai