TL;DR
- Galaxy Digital added $100 million in sUSDS from Sky Protocol to its corporate treasury, funded from its own balance sheet.
- The firm approved sUSDS as collateral on its institutional platform, which manages an average loan book of $1.4 billion.
- Galaxy also acquired an undisclosed amount of SKY tokens, deepening a relationship that includes $500 million in credit facilities.
Galaxy Digital announced the addition of $100 million in sUSDS, the yield-bearing stablecoin from Sky Protocol, to its corporate treasury. The purchase was funded directly from the company’s balance sheet, which as of June 30 held nearly $2.5 billion in cash and stablecoins, according to Max Bareiss, the firm’s head of lending.
The company indicated it is among the first public firms to incorporate sUSDS into its treasury. Beyond the acquisition, the firm approved uSDS as valid collateral across its entire institutional trading platform, which has more than 1,600 counterparties and manages an average loan book of $1.4 billion.
Galaxy Adds $100 Million in sUSDS to Corporate Treasury and Acquires SKY
Galaxy Digital has purchased $100 million of Sky Protocol’s yield-bearing stablecoin sUSDS using its own balance sheet and approved it as collateral across its institutional trading business, which has a… pic.twitter.com/ieAGQQoC4w
— Wu Blockchain (@WuBlockchain) September 23, 2026
Galaxy and Sky Strengthen Their Onchain Financing Strategy
As part of the agreement, Galaxy acquired an undisclosed amount of SKY tokens. Greg Feibus, global head of capital markets at Sky Frontier Foundation, explained that “holding SKY is representative of the breadth of the integration across treasury and lending.” Feibus added that the firm views the protocol’s ability to generate sustained returns across different market environments as a central element of the investment thesis.
sUSDS as Collateral
Galaxy’s institutional clients can now use sUSDS as collateral in credit operations while continuing to accrue the Sky Savings Rate on the full position for the duration of the loan. Feibus noted that institutional interest in the Sky ecosystem deepened following the assignment of a ‘B-‘ credit rating by S&P Global last year.
The relationship between both companies already includes several financing agreements. Grove, a Prime Agent within the Sky ecosystem, provides Galaxy with a $500 million storage facility for institutional loans secured by digital assets.
In January, Grove also funded with $50 million the $75 million tokenized CLO that the firm launched on Avalanche. For its part, the firm borrowed through Spark, a Sky capital allocator, to support its Galaxy Onchain Financing Rate, launched in July, which aggregates rates from protocols such as Aave, Morpho, and Kamino. E
