Galaxy Digital Offers Crypto-Backed Credit Line for Retail Clients
Galaxy Digital has launched a new product called Crypto Portfolio Line of Credit, which allows retail clients to borrow cash without selling their cryptocurrency holdings.
The service is available on GalaxyOne's retail platform and enables clients to pledge Bitcoin (BTC), Ether (ETH), and Solana (SOL) as collateral to borrow either US dollars or the stablecoin USDC. Additionally, staked SOL also qualifies as collateral.
The product carries an annual interest rate of 8.99% and charges no origination fee. According to Galaxy Digital, funds are disbursed immediately, and the company does not rehypothecate posted collateral.