Kamino plans to introduce its Digital Assets Yield Vault in Q4 2026. The vault will lend USDC to KYC-verified institutional borrowers against BTC held at qualified custodians, under the supervision of Liechtenstein’s FMA.
The vault extends Kamino’s regulated institutional lending offering using a model proven at multi-billion scale. Strong early demand for its sibling vault provides context for the planned product, although it does not establish demand for this vault. Similar uptake could add fee revenue and strengthen the institutional lending narrative around KMNO. The vault’s initial scale is small relative to Kamino’s existing deposit base, limiting its near-term contribution.