Kamino launched USDC loans collateralized by Backpack tokenized stocks

The DeFi lending protocol Kamino announced the launch of a USDC loan service using Backpack tokenized stocks as collateral. Borrowers can receive up to 40% of the collateral's value.

The market will maintain its last stock price outside of U.S. trading hours, which means that during U.S. stock market closures, the collateral valuation of the tokenized stocks will be based on their last transaction price, allowing borrowers to continue lending operations during non-trading hours.