Apollo Launches $785 Billion AUM Tokenized Credit Fund ACRED on Solana

Apollo Global Management, which manages $785 billion in assets under management (AUM), is launching its tokenized credit fund, ACRED, on the Solana blockchain. This initiative is facilitated through partnerships with Kamino Finance, Securitize, and SteakhouseFi. ACRED will be issued as a regulated sToken by Securitize and aims to unlock borrowing, leverage, and decentralized finance (DeFi) strategies for real-world assets (RWA) on Solana, marking the platform's first RWA offering.

Apollo Global Management, a leading asset manager with $785 billion in assets under management (AUM), is venturing into the burgeoning decentralized finance (DeFi) realm with the launch of its tokenized credit fund, ACRED, on the Solana blockchain.

This initiative is coming to fruition through partnerships with several key players in the crypto ecosystem:

* Kamino Finance, a Solana-based lending protocol, will be instrumental in integrating Apollo’s tokenized credit fund with its lending platform.

* Securitize, a technology platform specializing in capital markets services, will issue ACRED as a regulated sToken.

* SteakhouseFi, a liquid staking protocol for Solana, will be involved in liquid staking solutions for the tokenized credit fund.

The aim of this undertaking is to facilitate the creation of borrowing, leverage, and DeFi strategies on Solana using Apollo’s tokenized credit fund, marking the first RWA offering on the platform.

This launch is subject to the finalization of an audit by an independent third party.

In a separate development, Drift Protocol has unveiled Drift Institutional, a premium service catering to large institutions seeking to introduce their assets into Solana's DeFi ecosystem.

This service will integrate select DeFi protocols with specific institutional use cases, combining the strengths of both worlds.

Drift Institutional's inaugural offering will see the creation of an Institutional Pool for Apollo's tokenized credit fund, which will be launched shortly after the tokenized credit fund itself. This integration will further expand the role of Apollo's ACRED within the Solana DeFi landscape.

As institutions increasingly engage with the DeFi sector, initiatives like Drift Institutional and the launch of Apollo’s tokenized credit fund on Solana are poised to drive further convergence between traditional finance and decentralized technologies.

This article is an AI-generated portion of a paid newsletter article, written by The Defiant's Ben Kingsley. Subscribers receive Today in Defiant, Monday to Friday, in full, plus exclusive analysis from Ben and the team.

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