Galaxy Digital, the Nasdaq-listed digital asset firm, has added $100 million of Sky Protocol’s yield-bearing savings token sUSDS to its corporate treasury and expanded its use inside the company’s institutional business. The firm said sUSDS will also be accepted as collateral across its institutional operations, which serve more than 1,600 counterparties. Galaxy also bought an undisclosed amount of SKY.
Under the arrangement, Galaxy clients can post sUSDS as loan collateral while continuing to earn the Sky Savings Rate during the life of the loan. The update ties the token more closely to Galaxy’s lending platform rather than limiting it to treasury management alone.
Galaxy’s institutional lending business has an average loan size of about $1.4 billion, according to the report. It also noted that Grove, a Prime Agent in the Sky ecosystem, had previously provided Galaxy with a $500 million warehouse lending facility. The news was reported by Bitcoin.com News and cited by Odaily.
Galaxy Digital, the Nasdaq-listed digital asset company, has added $100 million of Sky Protocol’s yield-bearing savings token sUSDS to its corporate treasury and included the asset in the collateral set for its institutional business, which serves more than 1,600 counterparties.
The company also purchased an undisclosed amount of SKY. Galaxy clients can use sUSDS as loan collateral and continue earning the Sky Savings Rate while the loan remains outstanding.
Galaxy’s institutional lending business has an average loan size of about $1.4 billion. Grove, a Prime Agent in the Sky ecosystem, had previously provided the firm with a $500 million warehouse lending facility.
The report was cited by Odaily and attributed to Bitcoin.com News.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
