Consumer lending is the largest credit market in the U.S. Converting everyday consumer loans into tokenized real-world assets (RWAs), which use smart contracts to track fractional ownership and automate payments, allows banks to recycle capital more quickly while investors gain access to private consumer credit markets.
The $1.69 trillion U.S. auto loan market represents approximately 9% of consumer lending. Non-prime auto loans are a particularly promising asset class for tokenizing onchain, because they offer relatively high yields with established underwriting and institutional familiarity.
This week, onchain liquidity protocol Hastra issued AUTO, the first permissionless RWA backed by near-prime U.S. auto loan yield. Representing auto loans from Agora and delivered onchain by Figure, AUTO markets are now live and secured by Chainlink Data Streams on Kamino, the largest DeFi lending protocol on Solana with over $1 billion in total value locked.
Leveraging Chainlink’s time-tested oracle infrastructure, which has enabled over $32 trillion in transaction value, Data Streams is a pull-based oracle solution that expands DeFi’s reach and unlocks advanced onchain financial products by allowing protocols to consume data more cost-effectively and at lower latencies.
Kamino integrated Data Streams last year to reinforce its oracle architecture, remove single points of failure, and protect against volatility, even at max leverage.
AUTO gives Kamino users direct access to auto loan yield onchain and represents the first proof point in Hastra’s transition into the new frontier of tokenized consumer credit.