The Block reported that Galaxy Digital (GLXY) purchased $100 million worth of sUSDS, an interest-bearing stablecoin from the DeFi platform Sky (SKY, formerly MakerDAO). Galaxy has incorporated these assets into its treasury and adopted them as collateral for its institutional lending and trading businesses. The purchase was executed with its own funds, and while SKY tokens were also separately acquired, the quantity was not disclosed. With this integration, institutional clients can deposit sUSDS as collateral with Galaxy to receive loans, while continuing to earn Sky Savings Rate interest on the entire collateral amount during the loan period. Galaxy and Sky are also discussing plans to expand the existing $500 million funding limit for institutional loans.
