Kasu Review 2026: Private Credit Yield for DeFi Lenders

Kasu is a real-world asset protocol that brings private business lending to DeFi users. DefiLlama classes it as uncollateralized lending, and it runs on Base, XDC and Plume Mainnet. Its homepage says lenders can earn 9% to 20% a year from loans to vetted, creditworthy businesses.

The homepage reports $17.53M lent since inception, $12.79M in active lending and $1.35M of interest earned. It also states 0% lender losses and four active lending markets, with a founding lending partner track record of 9+ years. These are self-reported figures. DefiLlama shows only about $2,950 in TVL and has listed it since December 2025, so on-chain data covers a short period.

Current strategies include taxation funding, whole ledger funding and professional fee funding from Apxium, and payment finance from InvoiceMate. Kasu has no token listed, and DefiLlama shows two audits.

Kasu connects crypto lenders with private business loans. Credit Originators, such as Apxium and InvoiceMate, assess borrowers and structure loans like invoice finance, accounts receivable funding and tax-payable funding. Institutional credit funds do due diligence before a strategy goes live, and institutional senior lenders sit alongside lenders in a hybrid capital stack.

Lenders deposit stablecoins into a chosen strategy. Interest accrues and is capitalised at each weekly cycle close, so from week two interest earns interest. Lenders can take interest monthly or let it compound. Borrower repayments fund the interest, and security such as guarantees and receivable assignments sits with the Credit Originator.

If a loan goes wrong, the site says each strategy lists its own protections and that the risks are explained on the site. Capital is at risk, and withdrawals are by request, not guaranteed on demand.

Kasu says the rate shown is the effective rate, with weekly compounding included and no fees deducted from lenders, because platform fees are paid by the Credit Originator. Interest starts earning after seven days.

The project does not publish details on network gas, bank transfer or stablecoin conversion costs, or any withdrawal charges. Users should check these in the app and the documentation before depositing.

Kasu carries both smart-contract and credit risk. DefiLlama lists two audits, but the project does not name the auditors or their findings. The larger risk is borrower default, since loans are off-chain business debt backed by guarantees and receivable assignments, with exceptions noted by the site.

The site says Kasu is not a bank, offers no government deposit guarantee, and does not give financial advice. It says withdrawals are by request and not guaranteed at any time. The project does not describe any regulatory license for Kasu, and no incidents are mentioned. The 0% lender losses claim is self-reported over a short history. Only lend what you can afford to lock up and lose, and confirm this is permitted in your country.

Kasu is for experienced DeFi users and investors who want stablecoin yield from private credit and understand that capital is at risk and withdrawals are by request. It is not suited to anyone who needs instant access to funds or a guaranteed return.