Galaxy adds $100M Sky token and institutional adoption is tested
Summary
Galaxy Digital added $100 million of Sky Protocol’s yield-bearing sUSDS to its corporate treasury and approved the token as collateral for institutional clients. Borrowers can continue accruing Sky’s variable savings rate on pledged sUSDS, but Galaxy and Sky disclosed no completed loans, lending volume, or client uptake. The move builds on their existing relationship: Grove, a Sky ecosystem agent, provides a $500 million warehouse facility for loans originated by Galaxy, currently collateralized with Bitcoin and Ethereum. A Sept. 17 update said Sky agents held about $304 million with Galaxy as of Sept. 1, largely tied to that facility.
