Anchorage Digital has partnered with Kamino and Solana Company to deploy a structure that allows institutions to borrow on staked Solana without removing assets from regulated custody, potentially resolving a key friction between traditional finance and decentralized lending markets.
In a Friday announcement, Anchorage said the initiative expands its Atlas collateral management platform by integrating with Kamino, a decentralized lending protocol based on Solana.
This effort is being conducted in collaboration with Solana Company, a publicly traded Solana Company (GROUND) treasury created in partnership with Pantera Capital and Summer Capital.
Under this structure, institutions can use natively staked SOL as collateral for on-chain borrowing while the assets remain held at Anchorage Digital Banka federally chartered crypto bank. This means investors can continue to earn rewards while accessing liquidity through Kamino’s lending marketplaces.
Anchorage acts as collateral manager, overseeing loan-to-value ratios, margin requirements and, if necessary, liquidations. Because collateral remains kept separately, institutions do not need to transfer their assets into smart contracts, a requirement that has historically limited participation by regulated entities.
Related: Solana Treasures Support Over $1.5 Billion in Paper SOL Losses
DeFi legislation is in play
The integration between Anchorage Digital, Kamino and Solana Company highlights the growing institutional interest in decentralized finance. However, this momentum is taking place against an uncertain regulatory backdrop in the United States, where lawmakers are still debating how to oversee digital assets and DeFi platforms.
At the center of the debate is the proposition CLARTÉ lawwhich aims to establish clearer jurisdictional boundaries and regulatory standards for digital assets, including DeFi protocols.
Although the bill aims to reduce uncertainty for market participants, Some DeFi advocates argue that it does not address how decentralized protocols, developers, and governance structures should be treated under the law.
Industry groups have raised concerns that the previous draft text, including amendments introduced in January, does not sufficiently distinguish between centralized intermediaries and decentralized systems.
In an impasse over the future of the CLARITY Act, the The Trump administration called a meeting with industry representatives earlier this month to break the impasse and gather feedback on outstanding provisions related to DeFi oversight and market structure.
Related: Who gets the return? CLARITY Act becomes fight for on-chain dollars
