Galaxy Expands Treasury with $100 Million in sUSDS and Accepts It as Loan Collateral
Written with artificial intelligence.
Galaxy has added $100 million of sUSDS to its treasury and approved it for use as loan collateral. Clients can continue earning a 3.6% savings rate while using their sUSDS in Galaxy's institutional lending operations, which has an average loan book of $1.4 billion.
Galaxy's New Treasury Addition
Galaxy has bolstered its treasury with an infusion of $100 million in sUSDS, a stablecoin pegged to the US dollar. This strategic move allows the company to expand its lending capabilities while providing clients with additional options for their assets.
Benefits for Clients
Clients of Galaxy can take advantage of this new development by pledging their sUSDS as collateral for loans. Importantly, they can continue to earn a competitive savings rate of 3.6% through Sky, Galaxy's savings product. This dual benefit enhances the value proposition for users looking to maximize returns on their crypto holdings.
Institutional Lending Landscape
Galaxy's institutional lending business is significant, with an average loan book totaling $1.4 billion. The addition of sUSDS as collateral is expected to further strengthen this segment, offering more liquidity and flexibility for both the company and its clients.