Galaxy Digital purchased $100 million worth of sUSDS stablecoins, the yield-bearing stablecoin of Sky Protocol (formerly MakerDAO), using its own balance sheet. The company, which held approximately $2.5 billion in cash and stablecoins as of June 30, is among the first publicly listed firms to hold sUSDS in its treasury. Galaxy now accepts this stablecoin as collateral for its institutional trading clients, a unit that serves over 1,600 counterparties with an average loan outstanding of $1.4 billion. The circulating supply of sUSDS stands at nearly $4.4 billion, with a current Sky Savings Rate of 3.6%. Galaxy has also purchased SKY tokens for an undisclosed amount.
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