Galaxy Digital Adds $100 Million in sUSDS to Treasury and Approves It as Loan Collateral
(9 days ago) · 1 source · Summarized by CryptoBipto
Galaxy Digital has reportedly added $100 million worth of sUSDS, a stablecoin savings token from the Sky (formerly MakerDAO) ecosystem, to its corporate treasury. The firm has also approved sUSDS as acceptable collateral for lending operations.
WHY IT MATTERS
Think of a company's treasury like its savings account — it holds cash and other safe assets to fund operations. Traditionally, companies might keep cash in bank accounts or government bonds. Galaxy Digital has instead put $100 million into sUSDS, which is a type of digital token designed to hold a steady value of one US dollar while also earning interest, similar to a savings account. By also accepting sUSDS as collateral for loans, Galaxy is treating it like a recognized form of value — much like a bank accepting real estate as security for a mortgage. This matters because it shows that large financial firms in the crypto space are starting to use DeFi (decentralized finance) products in their everyday business, which could encourage wider adoption of these tools.
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