Kamino appoints Michael Weisz as CEO to lead its U.S. expansion, targeting tokenized assets and strengthening ties with Wall Street.
Kamino, a leading lending protocol on Solana with $1.4 billion in assets, has announced the appointment of Michael Weisz as its new CEO. Weisz, previously a co-founder of Yieldstreet, will oversee the firm's expansion into the U.S. from its new headquarters in New York.
The company is aiming to diversify its lending services to include tokenized real-world assets, such as blockchain-based home equity loans, while enhancing its ties with Wall Street. Kamino has facilitated over $650 billion in transactions over the past four years and its PRIME lending market has attracted deposits exceeding $600 million within just 107 days of its launch.
In establishing a New York office, Kamino hopes to strengthen its connections with asset managers and financial institutions. Weisz emphasized the strategic importance of being in New York, stating that the city is at the crossroads of asset management and institutional capital, which is crucial for the future of on-chain finance.
Kamino's expansion into tokenization reflects a broader trend on Wall Street, with projections suggesting the market for tokenized securities could reach $5.5 trillion by 2030. This move enables Kamino to provide lending options against tokenized assets, allowing investors to leverage these assets as collateral.
The firm’s PRIME market utilizes blockchain-based home equity loans as collateral, and notable companies such as Forward Industries and Galaxy Digital are leveraging Kamino's infrastructure for tokenized equity and U.S. Treasury positions.
As Kamino positions itself for growth, Weisz noted that the challenge lies in creating the necessary infrastructure that meets the needs of asset managers and aligns with distribution channels. The company has set ambitious goals to tap into new opportunities in the evolving landscape of decentralized finance (DeFi).
