HastraFi Brings $1.68 Trillion Auto Credit Market to Solana DeFi

HastraFi has launched the AUTO market on Solana, marking the first permissionless real-world asset product on the blockchain. This development brings the $1.68 trillion US auto credit market to DeFi with a new on-ramp.

The AUTO token channels interest payments from near-prime US auto loans into HastraFi's DeFi credit infrastructure, offering an APY of 9.07%. Currently, 2.40 million tokens are in circulation.

Figure is the capital markets firm behind the structure, originating and sourcing the underlying auto loans that feed yield into the AUTO token. Kamino handles the lending and liquidity infrastructure on Solana's side, while Chainlink Data Streams power the pricing and data feeds.

HatraFi has also indicated plans to expand AUTO to Ethereum, building on its established PRIME market, a similar product backed by home equity loans that peaked at over $600 million in market size earlier this year.