Galaxy Directs $100M Into Sky’s sUSDS Stablecoin Treasury
Galaxy integrated Sky's savings token into its own treasury while adding it as accepted collateral for institutional borrowers.
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Key takeaways
- Galaxy allocated $100 million worth of sUSDS to its corporate treasury.
- The firm now accepts sUSDS as eligible collateral for institutional loans.
- Galaxy purchased SKY tokens to deepen its financial ties with Sky.
Galaxy just parked $100 million into sUSDS, slotting Sky's yield-bearing savings token directly onto its corporate balance sheet.
That wasn't the only move. The financial firm formally approved sUSDS as recognized collateral for its institutional lending business. Galaxy also bought native SKY tokens to seal the commercial arrangement and tighten operational ties between the two organizations.
Why it matters
Yield-bearing stablecoins are stepping out of pure DeFi protocols and right onto corporate balance sheets. By taking sUSDS as collateral, Galaxy lets institutional borrowers squeeze yield out of dollar reserves without giving up quick access to capital.
Source: The Block
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Daniel Okoro
Daniel tracks crypto regulation and policy across the US, EU and Asia, with a decade in financial journalism.
