Galaxy Digital Adds $100M in sUSDS to Corporate Treasury and as Institutional Loan Collateral

Odaily News: Nasdaq-listed digital asset company Galaxy Digital has added $100 million worth of Sky Protocol's yield-bearing savings token sUSDS to its corporate treasury and included it in the collateral scope for its institutional business serving over 1,600 counterparties. Galaxy also purchased an undisclosed amount of SKY.

Galaxy clients can use sUSDS as loan collateral while continuing to earn Sky Savings Rate yields for the duration of the loan. Galaxy's institutional lending business has an average loan size of approximately $1.4 billion; Sky ecosystem Prime Agent Grove had previously extended a $500 million warehouse loan facility to it. (Bitcoin.com News)