Legasi

Legasi lets crypto holders borrow fiat currency against their digital assets without selling, deferring capital gains taxes — and is expanding the same credit rails to autonomous AI agents on Solana and beyond.

The Problem: Trapped Liquidity

Millions of European crypto investors face a persistent dilemma: their assets have appreciated significantly, but accessing that value means selling — and selling triggers a taxable event. Traditional banks have been slow to accept digital assets as loan collateral, and when they do, the process is manual, restrictive, and often limited to clients with established institutional relationships.

Legasi co-founders Valentin Pouzolles (CEO) and Arthur Gaspard (CTO) experienced this friction firsthand. Before founding Legasi in 2024, both worked as brokers arranging crypto-backed Lombard loans with regulated institutions in Luxembourg and Switzerland. They saw sustained demand from investors but routinely encountered a banking process they described as "slow, restrictive, and outdated." Their answer was to rebuild that infrastructure from scratch, pairing the compliance of traditional Lombard lending with the speed and accessibility of blockchain rails.

What Is a Lombard Loan?

Lombard credit is a form of secured lending where the borrower pledges a liquid asset — historically securities or precious metals, now increasingly digital assets — as collateral and receives a loan without liquidating the underlying position. This structure preserves market exposure and, in most European jurisdictions, defers the tax event that a sale would trigger. Legasi applies this established financial instrument to cryptocurrency holdings.

How Legasi Works

Legasi operates through two complementary pathways.

Banking Solutions: Users connect with regulated financial institutions — currently including a licensed institution in Luxembourg, alongside a law firm specializing in Web3 — that offer Lombard credit lines secured by cryptocurrency. Borrowers can receive EUR or USD directly to a bank account, with a five-step verification process described as yielding instant approval and requiring no traditional credit check. Users retain full ownership of their collateral throughout the credit period.

On-chain Infrastructure: In parallel, Legasi is building decentralized credit infrastructure targeting institutional standards. The primary collateral shown in the platform's borrowing interface is SOL, with USDC as the borrowing asset. Loan terms start at approximately 5.2% APY interest, with a maximum loan-to-value (LTV) ratio of 50%. The platform tracks health factors and liquidation prices in real time, consistent with standard DeFi risk management.

Solana at the Core

Legasi's blockchain-native product is built on Solana. The usdc-hackathon repository explicitly describes "Autonomous USDC credit for AI agents on Solana," and the borrowing-protocol repository contains the TypeScript smart contract implementation. Solana's low-cost, high-throughput environment makes it the natural fit for the on-chain credit rails Legasi is deploying.

That connection is formalized through competition results: Legasi placed third in the Solana Cypherpunk Hackathon's RWA (Real-World Assets) Track, winning 25,000 USDC. The judges categorized the project as a compliant credit layer using Lombard loans, positioning Legasi within the growing sector where tokenized real-world financial products intersect with blockchain settlement.

The AI Agent Expansion

A distinct product direction Legasi is pursuing is extending credit rails to autonomous AI agents. As of late 2025 into 2026, Legasi's GitHub repositories reflect a multi-chain push in this direction: agent-credit-rail provides policy-controlled payment rails on Stellar; agent-payment-xrpl covers XRP Ledger; skale-hackathon ports functionality to EVM chains via SKALE; and colosseum-agent-hackathon delivers a Solana-native agent credit product. The recurring pattern is overcollateralized credit — the same Lombard structure applied to human borrowers — made available programmatically to AI agents that need capital to operate but have no conventional access to it.

This direction intersects with the agentic payments space, where protocols like x402 enable autonomous agents to pay for services on-chain without human authorization steps. Legasi's contribution is a purchasing-power layer: credit pre-authorized by policy rules, backed by collateral, with private on-chain audit capability via zero-knowledge proofs (as described in the stellar-zk-private-audit repository).

Business and Enterprise Product

Legasi also targets institutional clients through a "Digital Credit as a Service" model, positioning itself as infrastructure for regulated financial institutions that want to offer digital-asset-backed credit without building entire systems independently. CTO Arthur Gaspard has stated publicly that "the next major infrastructure layer in digital assets won't just be payments, it will be credit." The company appeared at Paris Blockchain Week 2026, marking an active business development posture toward institutional Europe.

Team and Background

The founding team — Valentin Pouzolles (CEO) and Arthur Gaspard (CTO) — met during training at the Blockchain Business School (BBS) in France. Both brought hands-on experience from Lombard lending brokerage, providing domain knowledge rare in early-stage DeFi projects. The company is incorporated in Paris and employs a small team of 2-10 people as of 2026.

Tokens and Assets

Legasi does not have a native governance or utility token. The platform uses SOL as the primary collateral asset and USDC as the borrowing denomination on its Solana-based product. No Legasi-specific token has been issued.

Security and Audits

No public smart-contract audits have been disclosed. The banking-solution pathway operates through regulated institutions in Luxembourg, providing a compliance layer rather than a code audit layer. The on-chain infrastructure remains in early development — GitHub repositories, primarily hackathon entries updated through late 2025, have not published formal audit reports.

Solana Ecosystem Fit

Legasi occupies a distinct niche in the Solana ecosystem. While protocols like MarginFi, Kamino, and Save focus on overcollateralized on-chain borrowing with crypto-native output, Legasi bridges into the traditional financial system: the end product is fiat in a bank account, not a stablecoin in a wallet. The RWA angle — recognized by the Cypherpunk Hackathon judges — places Legasi alongside projects bringing regulated, real-world financial primitives onto Solana's settlement layer.