coindesk.com
MoonPay added Solana lending protocol Kamino to its PayBox AI-focused payment vault, allowing eligible users to lend tokens or borrow against crypto collateral through conversations with ChatGPT or Claude.
Kamino has around $1.3 billion in total value locked and $1 billion in active loans, according to DefiLlama. The integration lets users instruct the AI tool to supply tokens to Kamino for yield or borrow dollar-pegged stablecoin USDC against collateral supplied to the platform.
It doesn’t, however, create a new loan product. Instead, it replaces Kamino’s usual interface with a natural-language instruction to use with AI. Users can require passkey approval for every transaction or let the AI act autonomously within preset limits.
Agentic crypto use has so far centered on small, high-frequency payments for data, computing power and online tools, with Coinbase-developed x402 moving about $50 million across 165 million payments. This development allows it to manage users’ money, where an instruction can create a leveraged position that requires continued monitoring.
AI is a nascent technology still prone to execution errors, which, when dealing with funds, could get costly. While the integration allows users to manage their positions through a conversation with the software, risks remain. If the value of the collateral falls far enough, the position might cross Kamino’s liquidation threshold, allowing liquidators to repay debt and take some of the collateral.
MoonPay introduced PayBox in July with payments, token swaps, bridging and access to yield through Aave. Kamino is an expansion into a major Solana lending venue, rather than PayBox’s first move into decentralized finance, as agentic payment tools broaden into capital allocation and credit.
The integration is unavailable in the U.S., U.K., European Union and Australia, and access may vary by asset and jurisdiction.