Institutional Monetary Coup
Galaxy Digital Injects $100M into Sky Protocol’s sUSDS and Redefines the Use of Collateral in #WallStreet Crypto
#GalaxyDigital ha has achieved a key milestone in the convergence between traditional finance and decentralized finance (DeFi) by incorporating $100 million into sUSDS (the yield-generating stablecoin of #SkyProtocol ) into its corporate treasury, formally accepting it as institutional collateral.
Integration into corporate treasury: By financing the purchase with its own balance sheet, Galaxy positions itself as one of the first publicly listed companies to hold sUSDS, backed by its nearly $2.5 billion in cash and stablecoins as of the end of June.
Bet on Sky governance: The firm also acquired tokens #sky , strengthening its investment thesis in Sky Protocol’s ability to generate ongoing revenues on-chain.
Efficient collateral with active yield: Galaxy’s institutional clients can now use sUSDS as collateral for their loans without giving up the interest generated by the Sky Savings Rate throughout the life of the contract.
Evolution of the financial model: Following the traditional practice of pledging Treasury bonds, this move transfers the logic of directly yielding collateral to the blockchain, enabling institutions to audit balances and income in real time (on-chain).
Explosive growth: The deal comes after Sky received a 'B-' credit rating from S&P Global and coincides with a 149% year-over-year increase in sUSDS supply, reaching $5.520 billion at the end of Q2.
#CryptoNews
$SKY
$SOL
$XRP
Galaxy Digital Injects $100M into Sky Protocol’s sUSDS and Redefines the Use of Collateral in #WallStreet Crypto
#GalaxyDigital ha has achieved a key milestone in the convergence between traditional finance and decentralized finance (DeFi) by incorporating $100 million into sUSDS (the yield-generating stablecoin of #SkyProtocol ) into its corporate treasury, formally accepting it as institutional collateral.
Integration into corporate treasury: By financing the purchase with its own balance sheet, Galaxy positions itself as one of the first publicly listed companies to hold sUSDS, backed by its nearly $2.5 billion in cash and stablecoins as of the end of June.
Bet on Sky governance: The firm also acquired tokens #sky , strengthening its investment thesis in Sky Protocol’s ability to generate ongoing revenues on-chain.
Efficient collateral with active yield: Galaxy’s institutional clients can now use sUSDS as collateral for their loans without giving up the interest generated by the Sky Savings Rate throughout the life of the contract.
Evolution of the financial model: Following the traditional practice of pledging Treasury bonds, this move transfers the logic of directly yielding collateral to the blockchain, enabling institutions to audit balances and income in real time (on-chain).
Explosive growth: The deal comes after Sky received a 'B-' credit rating from S&P Global and coincides with a 149% year-over-year increase in sUSDS supply, reaching $5.520 billion at the end of Q2.
#CryptoNews
$SKY
$SOL
$XRP
