Galaxy Unveils Crypto-Backed Credit Service with No Origination Fee

Galaxy has launched a new line of credit service on its retail app GalaxyOne. The service allows eligible US clients to borrow cash against their Bitcoin, Ethereum, and staked SOL holdings without selling them.

The terms for this multi-asset line include no origination fee, an 8.99% variable APR, and a 50% loan-to-value ceiling. This means that users can still earn rewards on their staked SOL while using it as collateral.

Galaxy emphasizes that the pledged collateral is not rehypothecated, which means it's not used to back other loans or investments. The borrowed funds are typically available in USD or USDC within almost an instant, making this service a steadier alternative to pure DeFi borrowing rails.