{"id":13648,"date":"2026-09-24T05:03:56","date_gmt":"2026-09-24T05:03:56","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=13648"},"modified":"2026-09-24T05:03:56","modified_gmt":"2026-09-24T05:03:56","slug":"galaxy-adds-100m-sky-token-and-institutional-adoption-is-tested","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=13648","title":{"rendered":"Galaxy adds $100M Sky token and institutional adoption is tested"},"content":{"rendered":"<p><\/p>\n<div data-cs-editorial-figure-scope=\"\" data-cs-editorial-quote-scope=\"\" data-cs-image-viewer-scope=\"\" data-single-article-content=\"\">\n<p>Galaxy Digital has added $100 million of sUSDS, Sky Protocol&#8217;s yield-bearing savings token, to its corporate treasury and approved it as collateral for institutional clients, the companies said Sept. 23.<\/p>\n<p>Galaxy and Sky described the treasury position as complete, but their announcement gave no figure for client lending secured by sUSDS or the first completed loan. The decision makes the token eligible across Galaxy&#8217;s institutional trading business, with actual client uptake still undisclosed.<\/p>\n<figure id=\"attachment_565418\" aria-describedby=\"caption-attachment-565418\" style=\"width: 720px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-565418\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7.png\" alt=\"Infographic comparing Galaxy's company-reported $100 million sUSDS treasury holding with its separate decision to make sUSDS eligible institutional collateral; client loan volume is undisclosed.\" width=\"720\" height=\"480\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-300x200.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-1024x683.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-768x512.png 768w\" sizes=\"auto, (max-width: 720px) 100vw, 720px\"\/><img loading=\"lazy\" loading=\"lazy\" decoding=\"async\" class=\"lazyload wp-image-565418\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7.png\" alt=\"Infographic comparing Galaxy's company-reported $100 million sUSDS treasury holding with its separate decision to make sUSDS eligible institutional collateral; client loan volume is undisclosed.\" width=\"720\" height=\"480\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7.png 1536w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-300x200.png 300w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-1024x683.png 1024w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-28284a75-05e6-480c-a466-d26f0c5b19d7-768x512.png 768w\" data-sizes=\"(max-width: 720px) 100vw, 720px\"\/><figcaption id=\"caption-attachment-565418\" class=\"wp-caption-text\">Galaxy reported holding $100 million in sUSDS and separately made the token eligible as collateral for institutional client loans.<\/figcaption><\/figure>\n<p>The attraction is a token that continues to accrue a savings return when pledged. Under the announced arrangement, clients who post sUSDS against a loan keep accruing the Sky Savings Rate on the full position while the loan runs.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining The Catalyst\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Catalyst <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">What\u2019s moving crypto. Why it matters.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Get CryptoSlate\u2019s essential stories and what to watch next.<\/p>\n<p>  <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"16\" fill=\"currentColor\" viewbox=\"0 0 16 16\" aria-hidden=\"true\" focusable=\"false\"> <path d=\"M15 3.604H1v1.891h14v-1.89ZM1 7.208V16l7-3.926L15 16V7.208zM15 0H1v1.89h14z\"\/> <\/svg> <span>Published on Substack<\/span> <\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Seven days a week. Unsubscribe anytime.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<div class=\"cs-inline-newsletter__success\" role=\"status\" aria-live=\"polite\" aria-atomic=\"true\" tabindex=\"-1\"> <span class=\"cs-inline-newsletter__success-icon\" aria-hidden=\"true\"\/><\/p>\n<div>\n<h3 class=\"cs-inline-newsletter__success-title\">Check your inbox.<\/h3>\n<p class=\"cs-inline-newsletter__success-copy\">Your signup request was sent. If confirmation is required, follow the email from Substack.<\/p>\n<p class=\"cs-inline-newsletter__success-hint\">Look in spam or promotions if you don\u2019t see it.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/aside>\n<p>Sky says governance sets that rate and funds it from aggregate protocol surplus, and that holders keep the same number of sUSDS tokens as the amount of USDS redeemable for each token increases as it accrues. The savings rate can change, so future accrual is not fixed.<\/p>\n<p>For a borrower, that design could offer access to credit while retaining a savings position. The financial result would depend on the loan terms and the rate available over its life. The announcement does not provide those details for any completed sUSDS-backed borrowing, and it also leaves open how much collateral clients might eventually post.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Crypto lending turns to Wall Street credit rules to win back institutional trust after 2022 collapse<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<h2>The earlier Galaxy and Sky lending link<\/h2>\n<p>The companies&#8217; relationship already includes credit financing through Grove, a Sky ecosystem agent. In July, Grove announced a $500 million warehouse facility that supplies capital for institutional loans Galaxy originates.<\/p>\n<p>Grove is the warehouse lender, supplying USDS capital, while Galaxy originates and services the loans. Borrower collateral in that facility is limited to Bitcoin and Ethereum, including staked forms of Ethereum.<\/p>\n<p>A Sky Frontier Foundation update published Sept. 17 said Sky agents held about $304 million with Galaxy as of Sept. 1, driven by the Grove facility. That figure describes Sky-side exposure to Galaxy before the new announcement.<\/p>\n<p>The treasury allocation gives the partnership a stated balance-sheet footprint today. The collateral approval could extend sUSDS into Galaxy&#8217;s client lending, where an identified loan or disclosed outstanding balance would show whether institutions use the token beyond Galaxy&#8217;s own holdings.<\/p>\n<\/div>\n<p>Deals,DeFi,Digital Asset Treasuries,Featured,Investments,Bitcoin,ethereum,Galaxy DigitalBitcoin,ethereum,Galaxy Digital#Galaxy #adds #100M #Sky #token #institutional #adoption #tested1790226236<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Galaxy Digital has added $100 million of sUSDS, Sky Protocol&#8217;s yield-bearing savings token, to its corporate treasury and approved it as collateral for institutional clients, the companies said Sept. 23. Galaxy and Sky described the treasury position as complete, but their announcement gave no figure for client lending secured by sUSDS or the first completed<\/p>\n","protected":false},"author":1,"featured_media":13649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[233,494,267,91,31,4534,4533,236,5904,5390,665],"class_list":["post-13648","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-100m","tag-adds","tag-adoption","tag-bitcoin","tag-ethereum","tag-galaxy","tag-galaxy-digital","tag-institutional","tag-sky","tag-tested","tag-token"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Galaxy adds $100M Sky token and institutional adoption is tested - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Clients can pledge the savings token, though the companies disclosed no sUSDS-backed client loan volume.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=13648\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Galaxy adds $100M Sky token and institutional adoption is tested\" \/>\n<meta property=\"og:description\" content=\"Clients can pledge the savings token, though the companies disclosed no sUSDS-backed client loan volume.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=13648\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-24T05:03:56+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/galaxy-susds-two-roles-standard-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=13648\",\"name\":\"Galaxy adds $100M Sky token and institutional adoption is tested - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/galaxy-susds-two-roles-standard-image.jpg\",\"datePublished\":\"2026-09-24T05:03:56+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Clients can pledge the savings token, though the companies disclosed no sUSDS-backed client loan volume.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=13648\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/galaxy-susds-two-roles-standard-image.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/galaxy-susds-two-roles-standard-image.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13648#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Galaxy adds $100M Sky token and institutional adoption is tested\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; 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