Global fintech company MoonPay announced on August 27 local time that it had integrated Kamino, a Solana-based lending protocol, into PayBox, its payment and wallet permission management service for AI agents. Users can converse with ChatGPT or Claude and, by specifying the token type and amount, supply tokens to Kamino to earn yield, or borrow USDC, a dollar-pegged stablecoin, against the crypto assets they have supplied as collateral. MoonPay explained that without opening a separate protocol screen, a user can instruct "supply 500 USDC to Kamino" or "borrow USDC against SOL." This integration does not create a new lending product; rather, it lets the AI prepare Kamino's existing supply and borrow transactions through a dedicated connector. Transactions that require approval are confirmed with a passkey, and users can set one of three modes for each agent: always approve, approve when a limit is exceeded, or automatic execution within a pre-set policy. MoonPay said it applies non-custodial MPC-based threshold cryptography and secure enclaves to wallets, so that neither MoonPay nor the AI agent can access a complete private key or sign a transaction on its own. If the value of the collateral falls below Kamino's liquidation threshold after borrowing, a liquidator can repay the debt and take a portion of the collateral. MoonPay disclosed that yields are not guaranteed and that there are risks from smart contracts, liquidation, and protocol vulnerabilities. The Kamino integration is not offered in the United States, the United Kingdom, the European Union, or Australia, its scope varies by asset and jurisdiction, and loan terms and liquidation continue to follow Kamino's existing market rules.
MoonPay's PayBox: AI Executes Kamino Deposits and Collateralized Loans, With Per-Transaction Approval or Automation Within Limits
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What the user has handed over to the AI is not responsibility for financial risk but the right to execute within a defined scope. MoonPay's key distribution structure lowers the risk that any single party obtains a complete private key, but it does not prevent an erroneous instruction within the scope the user has permitted, nor does it prevent liquidation, and once liquidation begins, Kamino's rules operate ahead of the intent expressed in the conversation. For agent-based finance to be permitted in Korea, per-transaction approval and automatic limits must be distinguished, and the party responsible and the audit records must be disclosed in advance for cases of erroneous instructions, abuse of delegated authority, and liquidation.