Galaxy Digital adds $100M of Sky Protocol sUSDS to treasury

Galaxy Digital has integrated $100 million of Sky Protocol’s yield-bearing sUSDS into its corporate treasury. Beyond a simple asset purchase, the firm has approved sUSDS as eligible collateral for its institutional trading business, which manages an average loan book of approximately $1.4 billion serving over 1,600 counterparties.

This move allows institutional clients to earn the Sky Savings Rate while using the asset to back their borrowing, mimicking the dual function of Treasury securities in traditional finance. Galaxy also acquired an undisclosed amount of SKY tokens, further strengthening its existing relationship with the Sky ecosystem. This relationship includes a $500 million warehouse facility operated by Grove and onchain financing through Spark.