Galaxy Digital Adds $100 Million of sUSDS to Corporate Treasury
The firm also approved Sky Protocol’s savings token as collateral for institutional loans, allowing borrowers to keep earning the Sky Savings Rate.
Galaxy Digital has placed $100 million of Sky Protocol’s yield-bearing sUSDS in its corporate treasury and made the token eligible for institutional lending collateral, extending its use across the firm’s balance sheet and lending business.
Galaxy’s institutional platform serves more than 1,600 trading counterparties and has an average loan book of $1.4 billion. Borrowers using sUSDS as collateral retain exposure to the Sky Savings Rate while their loans remain outstanding.
The arrangement builds on Galaxy’s existing financing relationships with Sky ecosystem entities. Galaxy has access to a $500 million Grove warehouse facility funded with USDS for digital-asset-backed institutional loans. Galaxy has also borrowed through Spark to support its Galaxy Onchain Financing Rate, or GOFR.
“Adding sUSDS to our treasury and as loan collateral, and deepening our GOFR financing through Sky, gives our clients more efficient access to onchain yield, backed by a savings rate we trust with our own balance sheet,” Max Bareiss, Galaxy’s head of lending, said.
Sky’s sUSDS supply reached $5.52 billion at the end of the second quarter, up 149% from a year earlier.
