Galaxy Digital added $100 million of Sky Protocol’s yield-bearing sUSDS to its corporate treasury and approved the token as collateral for institutional clients. Clients can continue to earn Sky’s reported 3.6% savings rate while pledging sUSDS, and Galaxy’s institutional lending business has a roughly $1.4 billion average loan book.
The companies described the treasury position as complete but provided no figures for client loans secured by sUSDS or for any first completed sUSDS-backed loan. Sky says governance sets the savings rate and funds it from protocol surplus, and holders keep the same number of sUSDS tokens as redeemable USDS per token increases. The move complements preexisting ties: Grove’s $500 million warehouse supplies USDS capital for loans Galaxy originates, and a Sky update showed about $304 million of Sky-side exposure with Galaxy as of Sept. 1. Actual client uptake of sUSDS as collateral remains undisclosed.
This summary is composed by the cFlash AI editor from multiple public sources, under human supervision. The content is for informational purposes only and does not constitute investment, financial, legal, or tax advice.