Sky Protocol and Galaxy Digital Announce Strategic Partnership Across Lending and Capital Markets
15 Articles
15 Articles
Galaxy Adds $100M In SUSDS As Institutional Use Expands Strong
Galaxy Digital has added $100 million of Sky Protocol’s yield-bearing stablecoin sUSDS to its corporate treasury and approved the asset as collateral across its institutional trading business. The move also includes an undisclosed SKY purchase and discussions around expanding an existing $500 million financing facility, linking stablecoin treasury use with institutional lending.
Key points of the news: Galaxy Digital incorporated $100 million in Sky Protocol’s sUSDS into its corporate treasury, funded by its own balance sheet. The firm approved using sUSDS as collateral on its corporate platform, which manages an average loan book of $1.4 billion. Galaxy also acquired an undisclosed amount of SKY tokens, which is ... Read more
According to The Block, US-based cryptocurrency company Galaxy Digital added $100 million worth of sUSDS, the yield-generating stablecoin of the decentralized finance (DeFi) platform Sky, to its treasury. The company also began accepting sUSDS as collateral in institutional lending and trading activities. The purchase was made from Galaxy's own balance sheet! Galaxy Head of Lending, Max Bareiss, stated in a press release that […] Source: Bitcoin…
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