Summary
- Global private equity firm Apollo announced plans to launch the tokenized private fund ACRED on the Solana (SOL) network.
- The project is led by Kamino Finance, with participation from DeFi risk advisory firm Stakehouse Financial.
- ACRED will be the first token on Solana developed based on Securitize's token issuance framework, used for on-chain lending and leverage.
Global private equity firm Apollo is set to launch its tokenized private fund, ACRED, within the Solana (SOL) DeFi ecosystem.
According to cryptocurrency-focused media outlet CoinDesk on the 20th (local time), Apollo plans to develop ACRED as the first token on the Solana network that can be used for on-chain lending and leverage.
This project is led by the DeFi protocol Kamino Finance (KMNO), with participation from DeFi risk advisory firm Stakehouse Financial.
Meanwhile, ACRED was issued based on the token issuance framework of Securitize, a platform for real asset tokenization and security token offerings (STO), last January.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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