Sky Protocol and Galaxy Digital Announce Strategic Partnership Across Lending and Capital Markets
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9 Articles
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…
Galaxy Digital (GLXY) Stock: Adds $100M sUSDS in Sky Protocol Partnership
TLDR Galaxy adds $100M in sUSDS to its treasury under the expanded Sky partnership. sUSDS becomes eligible collateral across Galaxy’s $1.4B institutional loan book. Clients can use sUSDS as collateral while still earning the Sky Savings Rate. Grove supplies USDS through a $500M facility supporting Galaxy loan origination. The deal deepens Galaxy’s access to Sky’s [...]
Galaxy Digital strengthens its ties with Sky Protocol (SKY), formerly MakerDAO. The company has added $100 million of sUSDS (the stable-yield protocol) to its cash flow. Galaxy will also accept it as collateral for its institutional customers, and has acquired SKY tokens for an undisclosed amount. The Galaxy Digital article invests in SKY and buys $100 million of sUSDS stablecoins for its cash flow appeared first on Cryptoast.
Galaxy Digital has moved $100 million of its treasury into sUSDS, the stablecoin that generates yield issued by Sky Protocol. It is a sign that tells a lot about the direction that is taking institutional finance related to cryptos. The transaction, announced Tuesday by the two companies, does not only concern the treasury of Galaxy Digital in the sense of [...]
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