Galaxy Adds $100 Million in Sky's sUSDS to Treasury, Approves It as Loan Collateral
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· body · New information from a source
Galaxy added $100 million in sUSDS, Sky's savings token, to its treasury and approved it as collateral for institutional loans.Clients pledging sUSDS can continue earning Sky's 3.6% savings rate while using the asset to secure borrowing.Galaxy's institutional lending business maintains a $1.4 billion average loan book.- Galaxy Digital has added $100 million of Sky's sUSDS token to its treasury, according to The Block and The Defiant.
- The firm also approved sUSDS as collateral for its institutional lending business, allowing clients to pledge the token for loans, both outlets reported.
- The Block's headline also states Galaxy bought SKY, the protocol's governance token, as part of the move.
- According to The Defiant, clients who post sUSDS as collateral with Galaxy can continue earning Sky's 3.6% savings rate on the token while it is pledged.
- The Defiant also reported that Galaxy's institutional lending unit carries an average loan book of $1.4 billion.
- The addition ties Galaxy's treasury and lending operations more closely to Sky, the protocol formerly known as MakerDAO, which issues sUSDS as a yield-bearing version of its stablecoin.
· summary · New information from a source
Galaxy deposited $100M in sUSDS to its treasury and cleared the Sky token for use as institutional loan collateral.- Galaxy Digital added $100 million in Sky's sUSDS to its treasury and approved the token as collateral for institutional loans, according to The Block and The Defiant.
· headline · New information from a source
Galaxy adds $100 million in Sky's sUSDS to treasury, approves token as loan collateral- Galaxy Adds $100 Million in Sky's sUSDS to Treasury, Approves It as Loan Collateral
Every change made to this story after publication is recorded here automatically. A factual error gets a correction as well, on the corrections page.
Galaxy Digital has added Galaxy adds $100 million in Sky’s sUSDS to treasury, buys SKY token as firms deepen lending ties.
of Sky’s sUSDS token to its treasury, according to The Block and The Defiant. The firm also approved sUSDS as collateral for its institutional lending business, allowing clients to pledge the token for loans, both outlets reported.
The Block’s headline also states Galaxy bought SKY, the protocol’s governance token, as part of the move.
According to The Defiant, clients who post sUSDS as collateral with Galaxy can continue earning Sky’s Clients can keep earning Sky’s 3.6% savings rate while pledging sUSDS to Galaxy, whose institutional lending business carries a $1.4 billion average loan book.
savings rate on the token while it is pledged. The Defiant also reported that Galaxy’s institutional lending unit carries an average loan book of Clients can keep earning Sky’s 3.6% savings rate while pledging sUSDS to Galaxy, whose institutional lending business carries a $1.4 billion average loan book.
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The addition ties Galaxy’s treasury and lending operations more closely to Sky, the protocol formerly known as MakerDAO, which issues sUSDS as a yield-bearing version of its stablecoin.
Sources: The Block, The Defiant
This article is for information only and is not financial advice.
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Story so far 2 updates
- flashGalaxy adds $100 million in Sky's sUSDS to treasury, approves token as loan collateralfirst reported · 2 sourcestheblock.co · thedefiant.io
- storyGalaxy Adds $100 Million in Sky's sUSDS to Treasury, Approves It as Loan Collateralupdate · 2 sourcestheblock.co · thedefiant.io
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