Galaxy Digital Debuts Crypto-Backed Credit Line on GalaxyOne

Galaxy Digital has expanded its digital trading and banking platform GalaxyOne by introducing a new crypto-backed credit line. This feature allows eligible US clients to borrow against Bitcoin, Ethereum, and Solana without selling their holdings.

The borrowing facility starts at a 50% loan-to-value ratio, which means users can borrow up to half of the value of their crypto holdings. The interest rate is variable at 8.99% annual percentage rate with no origination fee.

Users have the option to receive the borrowed money in US dollars or USDC, providing them with quick access to liquidity without having to sell their cryptocurrencies.

GalaxyOne's new feature also allows users to combine Bitcoin, Ethereum, and Solana under a single credit line instead of taking separate loans for each asset. Additionally, staked Solana can be used as collateral without being unstaked, enabling users to keep earning applicable staking rewards while still accessing loans.