Kamino launches fixed-rate credit and Sterling lending markets

Kamino has expanded its decentralized finance (DeFi) offerings by launching a new fixed-rate credit primitive and an isolated lending market for Tokenised GBP (tGBP) on the Solana blockchain.

The new fixed-rate credit feature includes an automatic rollover function, allowing borrowers to maintain positions across terms without manual refinancing. Additionally, the Sterling lending market enables users to supply tGBP or borrow it and USDC against approved collateral, such as USDC, cbBTC, and JitoSOL. Risk parameters, including loan-to-value ratios and collateral eligibility, are managed by Steakhouse Financial.

Issued by BCP Technologies, tGBP is a stablecoin designed to track the British pound at a 1:1 ratio. While tGBP is backed by cash and cash equivalents, it is not classified as electronic money and is not covered by the UK Financial Services Compensation Scheme. Kamino CEO Michael Weisz noted that the protocol is prepared to build credit markets for various regulated assets, including tokenized treasuries and gold.