Galaxy has partnered with Sky Ecosystem to add $100 million of Sky Protocol’s yield-bearing sUSDS to its balance sheet and approve the token as collateral across its institutional trading business. Galaxy’s operation carries an average loan book of about $1.4 billion and serves more than 1,600 counterparties. Clients using sUSDS to secure loans can continue earning the Sky Savings Rate, bringing a traditional-markets model of yield-producing collateral onto onchain credit infrastructure. Galaxy also acquired an undisclosed amount of SKY, with neither side publishing the position’s size or purchase price. The relationship builds on Grove’s $500 million warehouse facility for financing Galaxy’s institutional loans backed by digital assets, as well as Galaxy’s borrowing through Spark. The update also reported Sky Ecosystem’s trading volume at $0, highlighting the thin-liquidity backdrop surrounding the partnership.