Image Credit: galaxy.com
Galaxy has launched a crypto-backed portfolio line of credit through GalaxyOne, allowing eligible U.S. clients to borrow against Bitcoin, Ether, and Solana without selling their holdings. The revolving credit line is initially available to eligible clients in 40 U.S. states.
The product carries no origination fee and launches with a variable 8.99% annual percentage rate, which Galaxy can change with 30 days’ notice. The product uses an initial 50% loan-to-value ratio, while approved borrowers can receive funds in U.S. dollars or USDC.
Galaxy Combines Multiple Crypto Assets as Collateral
GalaxyOne allows customers to combine eligible BTC, ETH, and SOL holdings under a single revolving credit line rather than opening separate loans for each asset. Staked SOL can also be pledged without first being unstaked, allowing customers to continue receiving applicable staking rewards while it serves as collateral. GalaxyOne Managing Director Zac Prince said:
“The company was excited to bring a competitive crypto-backed borrowing product to market.”
Pledged Crypto Will Not Be Rehypothecated
Galaxy said crypto pledged to the credit line will not be rehypothecated, meaning the company will not lend or reuse those assets while they are securing the borrowing. The product is provided through GalaxyOne Lending rather than an external decentralized lending protocol.
Funding is typically available immediately after a credit line is opened, although Galaxy says some draws can take one to two business days. Borrowers make monthly interest-only payments under the open-term revolving structure.
Galaxy Extends Lending to Retail Clients
The new product expands Galaxy’s lending business further into its retail platform. GalaxyOne launched in October 2025 with crypto and stock trading alongside cash and yield products, while Galaxy has separately developed lending services for institutional and accredited investors.
Access to the new credit line remains subject to eligibility, portfolio value and other lending requirements. Galaxy said collateral values will be monitored continuously and clients may receive notifications as their loan-to-value ratio approaches required action thresholds.
