Kamino Launches First Market for Tokenized Brazilian Credit Card Receivables

Kamino Finance, the largest lending protocol on Solana, has launched a dedicated market for nOPAL, the receipt token for Plume's BlackOpal (Nest) product. This marks the first integration of Plume Vaults on Kamino, curated by Re7 Labs, a DeFi risk and strategy firm.

nOPAL represents a tokenized stake in the BlackOpal LiquidStone II vault, which bundles short-duration Brazilian credit card receivables into a yield-bearing instrument. The historical yield range sits between 8% and 12% APY, driven by the interest rates embedded in those underlying receivables.

The Kamino market is part of nOPAL's broader multi-chain rollout, which has also seen it expand to Avalanche, Ethereum via Pendle, and BNB Chain. Since its launch on Kamino, the market has accumulated approximately $1.2M in TVL.