Galaxy Completes $100 Million sUSDS Treasury Allocation

Galaxy said it completed a $100 million allocation of Sky Protocol’s sUSDS to its corporate treasury and approved the token as eligible collateral in its institutional business. The move gives the yield-bearing savings token a place in Galaxy’s own holdings and makes it available for clients seeking loans, though the companies have not disclosed any completed client borrowing secured by sUSDS or how much collateral has been posted. The companies described the treasury allocation as complete and the collateral decision as an expansion of their existing relationship. Galaxy’s institutional loan book was reported at about $1.4 billion. That figure does not indicate how much of the book, if any, is backed by sUSDS; client use of the token as collateral remains undisclosed. Under the arrangement described by Sky, clients pledging sUSDS can continue accruing the token’s variable savings rate on the pledged position while a loan is outstanding. Sky says the rate is set through governance and funded from protocol surplus. Because the rate can change and no completed-loan terms were provided, the potential financial benefit to borrowers is not established.