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According to The Block, US-based cryptocurrency company Galaxy Digital added $100 million worth of sUSDS, the yield-generating stablecoin from the decentralized finance (DeFi) platform Sky, to its treasury. The company also began accepting sUSDS as collateral for institutional lending and trading activities.
<h2 id="the-acquisition-came-from-galaxy-s-own-balance-sheet">The Acquisition Came from Galaxy’s Own Balance Sheet!</h2>
Galaxy Head of Credit, Max Bareiss, stated that Galaxy financed its sUSDS purchase from its own balance sheet and that as of June 30, the company held approximately $2.5 billion in cash and stablecoins.
Galaxy stated that it was one of the first publicly traded companies to hold sUSDS.
Galaxy also reportedly purchased an undisclosed amount of SKY, the native token of the Sky ecosystem.
Greg Feibus, Head of Global Capital Markets at Sky Frontier Foundation, stated that the SKY acquisition demonstrates that the integration between the two companies is not limited solely to lending activities.
“Holding SKY tokens is an indicator of the breadth of integration across treasury and lending spaces. Galaxy sees Sky’s ability to generate meaningful protocol revenue in market environments and the increasing institutional adoption of its broader ecosystem as central to its investment thesis.”
<h2 id="susds-can-be-used-as-collateral-for-loans">sUSDS Can Be Used as Collateral for Loans!</h2>
Under the new arrangement, Galaxy’s institutional clients will be able to use their sUSDS assets as collateral for loans. Importantly, clients will continue to receive a variable return called the Sky Savings Rate on their sUSDs collateral for the duration of the loan.
Galaxy’s enterprise transaction platform serves more than 1,600 transaction counterparties, while the average size of its enterprise loan portfolio is approximately $1.4 billion.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/us-giant-galaxy-digital-invests-in-a-surprise-altcoin-opening-new-doors-for-thousands-of-institution/" rel="noopener noreferrer nofollow">US Giant Galaxy Digital Invests in a Surprise Altcoin, Opening New Doors for Thousands of Institutional Investors!</a>

US Giant Galaxy Digital Invests in a Surprise Altcoin, Opening New Doors for Thousands of Institutional Investors!

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