Galaxy expands institutional lending to Solana via Kamino vaults

The new vaults, which went live on September 17, allow Galaxy to manage lending mandates directly through Kamino’s infrastructure. Galaxy’s curation team dictates eligible lending markets, capital allocation weights, and exposure limits, while the protocol handles the execution and rebalancing of assets. The USDC vault is designed for broader collateral exposure to capture higher yields, whereas the USDT vault employs a more selective approach focused on capital preservation within established lending venues.

Galaxy’s director of trading, Eduardo Bermudez, emphasized that this integration enables institutions to access onchain yield without altering their internal operating frameworks. While Galaxy brings its risk management experience—supported by a $1.4 billion average loan book reported in Q2—to the platform, the company has clarified that the vaults are not principal-protected and remain subject to market, liquidity, and smart-contract risks. Kamino, which reports over $20 billion in originated loans to date, provides the smart-contract environment for these strategies. Users can access the USDC vault directly through Kamino or via the Yield.xyz interface, while the USDT product remains exclusive to the Kamino ecosystem.