Galaxy Invests $100 Million in Onchain Credit Infrastructure

user avatar

by Maya Lundqvist

an hour ago

Made with AI

In a groundbreaking move for the decentralized finance sector, Galaxy has announced a substantial investment of $100 million into Sky Protocol's yield-bearing sUSDS. This strategic decision not only integrates sUSDS into Galaxy's corporate treasury but also designates it as eligible collateral for institutional trading operations. The report highlights positive developments indicating that this investment could significantly enhance liquidity and trading efficiency in the market.

Integration of sUSDS

The integration of sUSDS allows Galaxy's clients to benefit from the Sky Savings Rate while utilizing sUSDS as collateral for loans. This development signifies a notable shift in how institutional players can leverage decentralized finance, providing them with new avenues for earning and borrowing.

Galaxy's Commitment to Innovation

Galaxy's investment underscores its commitment to merging traditional finance principles with innovative on-chain solutions. By adopting sUSDS, the firm aims to reshape the engagement of institutional clients with digital assets, potentially paving the way for broader acceptance and utilization of decentralized financial products.

In a recent development, Galaxy has committed up to $5 million for Bitcoin quantum-security research, highlighting its proactive approach to safeguarding digital assets. This initiative contrasts with its recent $100 million investment in Sky Protocol's sUSDS. For more details, see quantum security.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Visa's Research Highlights Trust as a Barrier to Stablecoin Adoption

Visa's research highlights that trust and fraud protection are essential for stablecoin adoption, with 36% of US respondents considering their use, especially with bank-level protections.

user avatarTomas Novak

Cardano's Onchain Governance Approves New Treasury Allocations

Cardano's governance system has approved a new round of treasury allocations aimed at infrastructure and ecosystem development.

user avatarKaterina Papadopoulou

Blockchain.com and NYSE Join Forces to Launch Tokenized Trading Platform

Blockchain.com and the New York Stock Exchange have signed an agreement to develop a platform for trading tokenized US stocks and ETFs.

user avatarLeo van der Veen

Circle Launches StableFX for Onchain Foreign Exchange

Circle has launched StableFX, a service for institutions to exchange stablecoin-denominated currencies on its blockchain, Arc, enabling 24/7 currency exchanges and improving foreign exchange efficiency.

user avatarLi Weicheng

TLDR Strategy Enhances Financing Framework for Future Activities

TLDR Strategy has updated its securities paperwork to maintain its at-the-market financing capacity, crucial for future funding activities.

user avatarAisha Farooq

WisdomTree Advances Regulatory Framework for Tokenized Funds

WisdomTree has updated its registration materials for tokenized investment products, focusing on the legal framework necessary for their distribution.

user avatarTenzin Dorje

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.