Galaxy Adds 100 Million of Sky's sUSDS to Treasury

Galaxy has added 100 million of Sky Protocol's yield-bearing sUSDS to its corporate treasury and approved the token as collateral for its institutional trading operation, which has an average loan book of about 1.4 billion. This move allows institutional clients to use sUSDS as collateral while earning the Sky Savings Rate. Galaxy funded this position from its own balance sheet and also acquired an undisclosed amount of SKY, enhancing its relationship with the Sky ecosystem. Previously, Galaxy had access to a 500 million warehouse facility from Grove, part of the Sky ecosystem, for financing institutional loans backed by digital assets. The addition of sUSDS to Galaxy's treasury and collateral framework integrates these elements, indicating a shift towards institutional adoption of DeFi with yield-bearing dollar assets and secured loans managed onchain. Galaxy's allocation of 100 million exemplifies this transition.

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