Galaxy has extended its onchain finance business to Solana with the launch of two stablecoin lending vaults on Kamino, giving users access to Galaxy Curation strategies for USDC and USDT and bringing the firm's institutional risk framework to a new blockchain ecosystem. For stablecoin holders, it offers a way to lend USDC and USDT through a structure in which allocations and risk parameters are set by a professional curator rather than selected market by market.

The two vaults went live on September 17, according to Galaxy. The company said its framework applies the same collateral standards, exposure limits, and market monitoring used across its trading and lending operations.

Two Moderate-Risk Vaults, Different Objectives

Both vaults are designed as moderate-risk strategies but pursue distinct goals. The USDT Vault prioritizes capital preservation through selective exposure to liquid lending markets, while the USDC Vault seeks higher yield through broader collateral exposure and wider market participation.

Galaxy said its lending business maintained an average loan book of $1.4 billion between March 31 and June 30, 2026, and serves more than 1,700 institutional counterparties globally. Despite the institutional framework, the vaults still carry market, smart contract, and liquidity risks, and Galaxy has not disclosed a fixed target yield for either strategy, meaning realized returns will vary with conditions in the underlying lending markets.

Galaxy Curation's First Expansion to Solana

The launch builds on Galaxy's July introduction of its institutional vault curation business, which initially Morpho and offered distribution through Fireblocks Earn. The Kamino deployment marks Galaxy Curation's first move onto Solana, extending the young business across ecosystems.

Access will also extend beyond Kamino's direct user base, as the USDC vault will be available through Kamino's integration with Yield.xyz.

Kamino has increasingly positioned its lending infrastructure for curated and institutional strategies. Its platform supports lending markets and managed vaults in which curators can define allocations and risk parameters — the model that allows outside firms like Galaxy to manage capital on top of the protocol.

For Galaxy, the partnership fits a broader push into onchain credit. The company launched its Galaxy Onchain Financing Rate program in July, which tracks lending markets including Kamino. With the new vaults, Galaxy now has both an active lending presence on Kamino and a benchmarking program covering the same markets — another route for putting stablecoin capital to work onchain while extending its established risk-management framework into Solana's lending market.