Galaxy Opens Retail Crypto-Backed Credit Lines on Bitcoin, Ethereum and Solana
GalaxyOne launched a retail crypto-backed revolving credit line that lets eligible clients borrow cash against Bitcoin, Ethereum, and Solana, including staked SOL, without selling their holdings. The Crypto Portfolio Line of Credit uses one combined line for multiple assets, with a variable 8.99% APR and a 50% loan-to-value ratio, so $100,000 of collateral supports about $50,000 in borrowing. Collateral is monitored continuously, and users are warned before any action if values drop. Funds can be drawn instantly as cash or USD/USDC, and the pledged crypto is not rehypothecated; staked SOL continues earning rewards. Galaxy positions the product as a more controlled alternative to failed 2022 crypto lenders like Celsius, BlockFi, and Voyager. The service is available in 40 states, excluding several including California and New York not listed? (Actually excluded states named are California, Delaware, Idaho, Indiana, Minnesota, Mississippi, Missouri, Nevada, and South Dakota.)
