A tokenized version of a major private credit fund managed by Apollo will arrive on Solana's

The launch, orchestrated by lending platform Kamino Finance with support from tokenization specialist Securitize and DeFi risk advisor Steakhouse Financial, aims to make the Apollo's Diversified Credit Securitize Fund (ACRED) token the first of its kind to be available for on-chain borrowing and leverage on Solana.

A major private credit fund from Apollo will arrive on Solana’s DeFi ecosystem in the form of a token that can be used for on-chain borrowing and lending, lending platform Kamino Finance announced Thursday.

Apollo’s Diversified Credit Securitize Fund (ACRED) token will be the first of its kind to be available for DeFi use on Solana, according to Kamino. The token’s debut on the chain is still pending an audit, Kamino said.

The token, which launched in January, offers exposure to Apollo’s private credit strategies and is issued using Securitize’s regulated token framework. ACRED will also be the first token on Solana to use Securitize’s sToken standard, with more assets expected to follow later, Securitize said.

The product highlights a growing interest in crypto for real-world asset (RWA) tokenization. RWAs—traditional instruments such as funds, bonds or real estate—are being brought onto blockchain rails to reduce friction in investing, improve access and transparency, and allow for programmable use in DeFi protocols. In practice, this means investors can use RWAs as collateral to borrow against, yield farm, or plug into automated investment strategies.

“The value of tokenization really comes into play when these assets are integrated into DeFi, and new products and strategies are developed around them,” said Reid Simon, head of DeFi and credit solutions at Securitize.

Despite Solana’s fast-growing DeFi market, RWAs have yet to take off on the chain. According to RWA.xyz, Solana now has around $330 million worth of RWA assets, small compared to the network’s nearly $9 billion DeFi market size. It’s also trailing rival layer-1 network Ethereum's $7 billion real-world asset market. But with large players in tokenization stepping in, backers of the launch see this as a tipping point.

“Solana has experienced explosive consumer growth in recent years, but below the surface we are seeing enormous interest from institutions and asset issuers,” said Marius Ciubotariu, co-founder at Kamino. “Finally, the industry is in a position to not only bring these assets on-chain, but to provide genuine use-cases.”

Through Kamino’s Multiply product, users will be able to leverage ACRED for yield strategies—automatically looping the asset to increase exposure while managing collateral and borrow levels through Solana-native smart contracts. That’s a similar offering to what Gauntlet introduced on Polygon in late April.

"Building on off-chain credit assets in a composable way is the sort of long-term investment we believe can help catalyze further growth of DeFi in Solana," said adcv, co-founder of Steakhouse Financial.