Galaxy adds $100M of Sky’s sUSDS to corporate treasury

Galaxy has moved $100 million of Sky Protocol’s yield‑bearing sUSDS onto its balance sheet and opened the token for use as collateral across its institutional trading operation.

sUSDS becomes institutional collateral

The digital‑asset firm funded the $100 million position from its own balance sheet and now allows institutional clients to pledge sUSDS when taking loans through its trading business. The trading desk manages an average loan book of roughly $1.4 billion and serves more than 1,600 counterparties.

Yield‑bearing collateral model

Clients using sUSDS as collateral continue to earn the Sky Savings Rate, mirroring traditional finance where Treasury securities generate yield while serving as collateral. This on‑chain implementation tests the viability of stablecoin‑based credit infrastructure.

Additional SKY purchase

Galaxy also acquired an undisclosed amount of SKY, deepening its existing relationship with the Sky ecosystem.

Existing partnership with Sky

Prior to this allocation, Sky’s Grove facility provided Galaxy with a $500 million warehouse line to finance institutional digital‑asset loans. Galaxy has also borrowed through Sky’s Spark platform as part of its on‑chain financing strategy.

Implications for DeFi adoption

The move ties Sky’s yield‑bearing assets directly to Galaxy’s balance sheet and credit operations, illustrating a shift toward familiar financial structures—yield‑bearing dollar assets, secured loans, and collateral management—implemented on‑chain.