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-0.00216651191581555 -0.00124110182606012 -0.000773754255648362 0.00247601361807485 -0.011142061281337 -0.0117610646858557 -0.00990405447229961 -0.00990405447229961
Stock impact report

Avalanche facilitates Galaxy Digital's $75M tokenized CLO debut [Yahoo! Finance]

Galaxy Digital Inc. - Class A common stock (GLXY) 
Company Research Source: Yahoo! Finance
The $75 million CLO has been issued on the Avalanche blockchain network. An allocation of $50 million from Grove, an institutional credit protocol within the Sky ecosystem, anchored the transaction. Related: JPMorgan to let clients use spot Bitcoin ETFs as loan collateral The asset manager stated that the CLO provides funding for an uncommitted credit facility to Arch Lending. It is a crypto lending platform backed by Galaxy Ventures that offers consumer loans overcollateralized with cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). The proceeds from the CLO have been utilized to purchase outstanding loans under the Arch credit facility, with roughly $75 million financed so far and the potential to expand up to $200 million when new loans are originated. The debt tranches of the CLO were issued and tokenized on Avalanche by INX to ensure economical and efficient trading. The tokens are expected to be listed on INX's ATS platform, a wholly owned subsidiary of Republi Show less Read more
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