📢 𝐉𝐔𝐒𝐓 𝐈𝐍: Grove Launches $500 Million Crypto-Backed Lending Facility With $Galaxy Digital(GLXY.US) Galaxy Digital
👉 𝐊𝐞𝐲 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬:➤ 𝐆𝐫𝐨𝐯𝐞 establishes a 𝐒𝟓𝟎𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 warehouse lending facility with 𝐆𝐚𝐥𝐚𝐱𝐲.➤ Grove will finance Galaxy's 𝐢𝐧𝐬𝐭𝐢𝐭𝐮𝐭𝐢𝐨𝐧𝐚𝐥 crypto-backed loan originations.➤ Eligible collateral includes 𝐁𝐓𝐂 and 𝐄𝐓𝐇, including staked ETH.➤ 𝐀𝐧𝐜𝐡𝐨𝐫𝐚𝐠𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 and 𝐁𝐢𝐭𝐆𝐨 will serve as qualified custodians.➤ Loans are 𝐬𝐞𝐧𝐢𝐨𝐫 𝐬𝐞𝐜𝐮𝐫𝐞𝐝 with original terms of two years or less.➤ 𝐄𝐓𝐇-backed loans are capped at 𝟓𝟎% of the facility.➤ Loan-to-value ratios will be monitored continuously using 𝐂𝐡𝐫𝐨𝐧𝐢𝐜𝐥𝐞 price feeds.➤ Grove previously anchored Galaxy's 𝐒𝟓𝟎 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 tokenized CLO in December 2025.➤ Facility provides Galaxy with committed funding to expand institutional lending.➤ Sky Ecosystem gains 𝐔𝐒𝐃𝐒-denominated private credit exposure through the facility.