Kamino Finance has launched a new borrowing market on Solana that accepts bridged ZEC (Zcash) as collateral. This allows users to deposit ZEC to borrow USDC or use the Multiply product to create leverage without needing a centralized exchange.
The protocol utilizes cross-chain bridge infrastructure, specifically NEAR Intents and OmniBridge, to integrate ZEC into the Solana ecosystem. This follows the asset's introduction to the Kamino Swap aggregator in late October 2025.
To manage risk, the ZEC market is hosted within an isolated lending architecture. This separate pool prevents ZEC's volatility from affecting the protocol's main liquidity, allowing for custom loan-to-value ratios and liquidation thresholds.
The Multiply feature automates the process of borrowing USDC, swapping it for ZEC, and redepositing it in a single transaction to amplify exposure. This strategy mirrors a previous implementation for PAXG (tokenized gold), which was introduced around July 27, 2026.
Kamino's overall lending platform manages billions in aggregate market size across its various pools, although specific data for the ZEC market has not yet been disclosed.
