Sky Protocol and Galaxy Digital Announce Strategic Partnership Across Lending and Capital Markets
11 Articles
11 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…
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.
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