Kasu

Kasu is a real-world asset (RWA) income protocol focused on private credit, aiming to tokenize assets such as traditional private credit, factoring, and trade finance. Its core business is to help qualified investors (i.e., "lenders") directly lend funds to small and medium-sized enterprises (i.e., "borrowers") through on-chain credit analysis, institutional-grade custody, and compliance frameworks, generating yields denominated in stablecoins (e.g., USDC).

The core competitiveness of Kasu lies in its on-chain credit analysis engine, which assesses credit risk by analyzing the borrower's on-chain behavior, cash flow, and collateral quality, while providing institutional-grade compliance and asset custody.

In terms of market pain points, the traditional private credit market suffers from high barriers to entry, low liquidity, and a lack of transparency. Kasu addresses these issues by providing institutional-grade infrastructure, simplifying the funding process, enabling qualified investors to obtain higher liquidity and lower entry barriers.

From March to September 2026, Kasu launched its testnet in March 2026, followed by a security audit in Q2, and successfully launched its mainnet in June 2026. In July, Kasu integrated Chainlink's price feed mechanism, and by September, it reached a total value locked (TVL) of $100 million, with over 10,000 users.

In Q3 2026, Kasu announced a partnership with a large asset management company to promote the development of tokenized funds. Although a minor glitch occurred in the testnet in August, the issue was resolved within 24 hours, and a detailed report on decentralized finance (DeFi) was published.