Galaxy Adds $100M Of Sky’s sUSDS To Corporate Treasury

TL;DR Galaxy has added $100 million of Sky Protocol’s sUSDS to its own corporate treasury. The firm has also approved sUSDS as collateral across an institutional trading business carrying an average loan book of about $1.4 billion. Galaxy additionally bought an undisclosed amount of SKY, deepening an existing lending relationship with the Sky ecosystem. Galaxy is putting a meaningful chunk of its own balance sheet into onchain credit infrastructure. The digital-asset firm has added $100 million of Sky Protocol’s yield-bearing sUSDS to its corporate treasury and approved the token as eligible collateral across its institutional trading operation. This is more interesting than a simple token purchase. sUSDS Moves From DeFi Asset To Institutional Collateral Galaxy funded the $100 million position from its own balance sheet. The company has also opened sUSDS up for use as collateral by institutional clients taking loans through its trading business, which carries an average loan book of roughly $1.4 billion and serves more than 1,600 counterparties. That creates a different proposition from holding a normal dollar stablecoin. Clients pledging sUSDS can continue earning the Sky Savings ...