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Jul 15 at 01:01 PM
๐ข ๐๐๐๐ ๐๐: Grove Launches $500 Million Crypto-Backed Lending Facility With $Galaxy Digital(GLXY.US) Galaxy Digital
๐ ๐๐๐ฒ ๐๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:โค ๐๐ซ๐จ๐ฏ๐ establishes a ๐๐๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง warehouse lending facility with ๐๐๐ฅ๐๐ฑ๐ฒ.โค Grove will finance Galaxy's ๐ข๐ง๐ฌ๐ญ๐ข๐ญ๐ฎ๐ญ๐ข๐จ๐ง๐๐ฅ crypto-backed loan originations.โค Eligible collateral includes ๐๐๐ and ๐๐๐, including staked ETH.โค ๐๐ง๐๐ก๐จ๐ซ๐๐ ๐ ๐๐ข๐ ๐ข๐ญ๐๐ฅ and ๐๐ข๐ญ๐๐จ will serve as qualified custodians.โค Loans are ๐ฌ๐๐ง๐ข๐จ๐ซ ๐ฌ๐๐๐ฎ๐ซ๐๐ with original terms of two years or less.โค ๐๐๐-backed loans are capped at ๐๐% of the facility.โค Loan-to-value ratios will be monitored continuously using ๐๐ก๐ซ๐จ๐ง๐ข๐๐ฅ๐ price feeds.โค Grove previously anchored Galaxy's ๐๐๐ ๐ฆ๐ข๐ฅ๐ฅ๐ข๐จ๐ง tokenized CLO in December 2025.โค Facility provides Galaxy with committed funding to expand institutional lending.โค Sky Ecosystem gains ๐๐๐๐-denominated private credit exposure through the facility.
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