Galaxy Lends Cash Against BTC, ETH, SOL at 8.99% APR
GalaxyOne now offers a crypto-backed credit line: borrow against Bitcoin, Ether and Solana at 8.99% APR without selling. Staked SOL keeps earning.
No Need to Sell
Galaxy Digital has turned crypto holdings into a credit line. As of August 25, eligible U.S. clients can borrow against Bitcoin, Ether and Solana through the GalaxyOne app without selling a single coin. The Portfolio Line of Credit rolls all three assets into one revolving facility rather than a separate loan per token. The rate is a variable 8.99% APR, there is no origination fee, and funding lands instantly in dollars or USDC.
The Terms Set the Bar
Lines open at a 50% loan-to-value ratio: post $100,000 of Bitcoin and draw $50,000 in liquidity. Repayment is interest-only, monthly. The real hook sits in the fine print. Staked Solana counts as collateral without unstaking, so clients keep earning staking rewards while the SOL backs the loan. Galaxy also says pledged coins are not rehypothecated: the collateral stays put. After the Celsius and BlockFi blow-ups of 2022, that is not a marketing line, it is the price of trust.
Galaxy Is Aiming at the Bank
The move pushes GalaxyOne from trading venue to lender. The app launched in October 2025 as a unified home for crypto and equities, and consumer lending is the new leg. Markets liked the direction: GLXY stock jumped 8% on the announcement. The product is live across 40 states for now. That puts Galaxy squarely against Coinbase and the legacy brokers courting the same clients and the same idle crypto balances.
What Traders Watch
Crypto-backed credit is the hinge between holding and spending. If you expect higher prices, you don't sell, you borrow: no taxable disposal, no lost upside. That unlocks structural demand and pulls sell pressure out of the tape. The flip side is liquidation risk. A 50% LTV leaves a comfortable buffer, but a sharp drawdown forces a top-up or a forced sale, precisely when prices are already sliding. The product amplifies both rallies and crashes. For adoption, the launch is a step forward: the more normal it becomes to borrow against coins, the deeper crypto embeds into everyday finance. And 8.99% is now the number the competition has to beat.