Bitcoin, Ethereum and Solana coins secured in a glowing collateral vault

Galaxy Opens One Credit Line Across Bitcoin, Ethereum and Solana

By Isaac • August 26, 2026 7:07 pm • Comments

Galaxy is giving retail crypto holders a new way to turn their portfolios into cash without selling the assets first.

The company has launched a single revolving credit line on GalaxyOne that accepts Bitcoin, Ethereum, Solana and staked Solana as collateral. The product carries an 8.99% variable annual percentage rate, charges no origination fee and starts borrowers at a 50% loan-to-value ratio.

That combination makes this more than another crypto-loan announcement. Galaxy is trying to package collateralized borrowing in a form that looks and behaves more like a conventional portfolio credit line—with one facility covering multiple major assets instead of a separate loan for every coin.

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Galaxy’s official announcement says eligible users can keep exposure to BTC, ETH and SOL while drawing funds in U.S. dollars or USDC. Staked SOL can remain staked while supporting the line, allowing applicable rewards to continue rather than forcing the holder to unstake before borrowing.

The company says customers can combine those eligible assets behind one line, draw and repay repeatedly, and receive funding instantly in normal cases. Galaxy is offering the product through GalaxyOne Lending in 40 states at launch, with interest-only monthly payments and no fixed maturity date.

The announcement also draws a clear line around custody risk: pledged collateral remains on GalaxyOne and is not lent out or reused. That promise is central to the product’s pitch after the failures of crypto lenders that depended on opaque reuse of customer assets.

Galaxy summarized the launch and its headline terms here:

The structure includes one especially important safeguard: Galaxy says pledged collateral will not be rehypothecated. In plain English, the company says it will not lend out or reuse the crypto while that crypto backs the customer’s credit line.

The product runs on Galaxy’s institutional infrastructure rather than an outside decentralized-finance protocol.

Borrowers still face real downside risk. The GalaxyOne product page says account health is recalculated as asset prices move.

The line begins at a 50% LTV, notifications arrive as the ratio reaches 60%, 65%, 70% and 75%, and GalaxyOne can sell collateral if the LTV reaches 75% or higher to bring it back to 65%.

The page says the restricted collateral equals twice the outstanding balance when the account sits at the initial 50% LTV. If prices rise, customers can withdraw or trade excess collateral; if prices fall far enough, any automatic sale is applied proportionally across the eligible BTC, ETH, SOL and staked SOL supporting the line.

Credit limits refresh every 60 seconds and can reach as high as $2 million, while the minimum loan varies by state. The 8.99% APR is variable, and GalaxyOne says it can change with 30 days’ notice.

That mechanism matters in crypto, where a sharp overnight drop can shrink a collateral cushion much faster than it would in a traditional securities portfolio. The ability to avoid selling today does not eliminate the possibility of a forced sale later.

GalaxyOne’s own launch post put the customer pitch in direct terms:

The line is open-ended rather than tied to a fixed maturity date, with monthly interest-only payments. Funding is normally available immediately after approval, though Galaxy notes that some draws can take one or two business days.

Minimum loan sizes vary by state, and the maximum credit limit is $2 million.

Decrypt’s coverage places the launch in the broader rebuilding of crypto lending after the failures of the last cycle. Galaxy’s answer is a tightly controlled, non-rehypothecated product focused on three of the market’s largest assets rather than a wide pool of speculative tokens.

For long-term holders, the appeal is obvious: unlock cash while preserving market exposure. But the trade-off is equally clear.

A borrower is adding leverage against volatile assets, paying a variable rate and accepting automated liquidation rules if the market moves hard enough.

GalaxyOne is betting that retail investors want that choice—and that the next phase of crypto credit will be won by products that make the risks as visible as the liquidity.

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