Galaxy Digital Inc. (NASDAQ: $GLXY) has launched a crypto-backed portfolio line of credit on GalaxyOne, giving eligible U.S. clients a way to borrow against Bitcoin (CRYPTO: $BTC), Ethereum (CRYPTO: $ETH) and Solana (CRYPTO: $SOL) without selling their holdings.
The revolving credit line combines eligible BTC ,ETH and SOL under one facility rather than requiring a separate loan for each asset
Staked SOL can also be used as collateral without unstaking, allowing clients to continue earning applicable staking rewards while accessing liquidity. GalaxyOne is offering the product with no origination fee and a variable 8.99% annual percentage rate. Lines begin at a 50% loan-to-value ratio, with interest-only monthly payments and funding typically available instantly in either U.S. dollars or USDC (CRYPTO: $USDC).
More From Cryptoprowl: Collateral pledged to the line is not rehypothecated, meaning Galaxy does not lend or reuse the assets while they back the loan. The product is supported by Galaxy’s institutional infrastructure rather than an external DeFi protocol and is initially available to eligible clients in 40 U.S. states. “We’re excited to bring a competitive crypto-backed borrowing product to market via our growing retail platform,” said Zac Prince, managing director of GalaxyOne. He added that Galaxy’s institutional infrastructure allows the company to offer competitive rates, security and flexibility through the new credit line.