Galaxy Adds $100 Million in sUSDS to Treasury, Purchases SKY Tokens

Galaxy Digital has utilized its own funds to add $100 million in the yield-bearing stablecoin sUSDS from Sky Protocol to its corporate treasury and has approved sUSDS as collateral for its institutional trading business. Clients can apply for loans using sUSDS as collateral through Galaxy and continue to earn Sky's savings interest during the loan period. Galaxy has also purchased an undisclosed amount of SKY tokens and established a new tripartite lending arrangement with the Sky Frontier Foundation, discussing an expansion of the existing $500 million warehouse financing limit. Galaxy claims to be one of the first publicly traded companies to hold sUSDS, with nearly $2.5 billion in cash and stablecoins as of June 30, serving over 1,600 counterparties on its institutional platform with an average loan size of $1.4 billion. Greg Feibus stated that holding SKY reflects the breadth of integration between the treasury and lending operations, emphasizing Galaxy's appreciation for Sky's ability to generate substantial protocol revenue across different market environments. As of the end of Q2, the supply of sUSDS reached $5.52 billion, a year-on-year increase of 149%.

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