Galaxy has rolled out a new retail crypto-backed credit product, letting users borrow cash against Bitcoin, Ethereum and Solana (including staked SOL) without selling their coins. Called the Crypto Portfolio Line of Credit (PLOC), the offering lives on Galaxy’s GalaxyOne platform and consolidates multiple assets into a single revolving line instead of separate loans per token. Key terms and features: - Collateral: BTC, ETH and SOL (staked SOL continues to earn rewards while pledged). - Rate: variable APR of 8.99%. - Origination LTV: 50% (roughly $100,000 of crypto collateral supports about $50,000 in borrowing). - Monitoring: collateral values are tracked continuously and GalaxyOne says it will warn clients before taking any collateral action. - Liquidity: draws typically fund instantly; borrowers can spend on-platform or withdraw as USD or USDC. - Safety: pledged crypto is not rehypothecated—Galaxy does not lend out or reuse the collateral while it secures the line. “We're excited to bring a competitive crypto-backed borrowing product to market via our growing retail platform,” said Zac Prince, Managing Director of GalaxyOne. “By leveraging Galaxy's institutional infrastructure, we are able to offer competitive rates, security and flexibility with our new crypto portfolio line of credit product.” The product arrives against the backdrop of the 2022 crypto lending implosions—Celsius, BlockFi and Voyager—when lenders froze customer funds and forced liquidations as prices plunged. Galaxy is pitching a different model: a regulated, internal platform rather than reliance on external DeFi protocols, and collateral that stays put rather than being rehypothecated. Market sentiment may be helping the timing. Crypto gauges flipped to “extreme greed” for the first time since 2024 this week, and Bitcoin and Ethereum ETFs added roughly $23 billion in inflows over a single week—signals of renewed investor appetite that could make borrowing-against-crypto more attractive. Availability: GalaxyOne Lending LLC is offering the PLOC in 40 states. The line is not available in California, Delaware, Idaho, Indiana, Minnesota, Mississippi, Missouri, Nevada and South Dakota. Read more AI-generated news on: undefined/news