Galaxy adds $100 million to Sky treasury strategy
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- Galaxy Digital has added $100 million of sUSDS to its corporate treasury.
- The company also approved sUSDS as collateral across its $1.4 billion average loan book.
- The partnership expands Galaxy’s use of Sky Protocol across institutional lending and capital markets.
Galaxy Digital Inc (NASDAQ:GLXY) has added $100 million of sUSDS to its corporate treasury.
The company also approved sUSDS as collateral across its institutional trading business, serving more than 1,600 counterparties.
“Galaxy has relied on Sky Protocol's infrastructure to support our onchain financing for some time,” according to Max Bareiss, Head of Lending at Galaxy.
Galaxy’s institutional trading business carries an average loan book of $1.4 billion, according to the announcement.
“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,” Bareiss added.
The relationship includes a $500 million warehouse lending facility provided through Grove, a Sky ecosystem Prime Agent.
Sky Protocol’s sUSDS supply reached $5.52 billion at the second-quarter close, up 149% year-on-year.
Following the announcement, Galaxy Digital Inc shares were down 5.08% at $25.79.
