DeFiance Capital, a global digital asset investment firm, recently settled a high seven-figure OTC transaction with Galaxy Digital, a global leader in the digital assets market, using USDO as the settlement currency. USDO is issued by OpenEden Digital, a Bermuda-based affiliate of OpenEden Group, which operates with a Bermuda Digital Asset Business Act (“DABA”) License to issue digital assets.
Traditional stablecoins such as USDC and USDT are widely used to settle trades across digital asset markets. Yield-bearing stablecoins, by contrast, are more commonly used for treasury management to optimize yield on capital that sits idle between trades.
This transaction demonstrates how that dynamic is changing. By accepting USDO as the settlement currency, DeFiance Capital and Galaxy Digital show how yield-bearing stablecoins can extend beyond treasury management and function directly as settlement liquidity between institutional trading counterparties.
“Stablecoins became foundational to digital asset markets once institutions began using them directly to settle trades,” said Jeremy Ng, Founder and CEO of OpenEden. “What we are beginning to see now is the same transition happening with yield-bearing stablecoins. When assets like USDO can move seamlessly between treasury management and trade settlement, they start to function as part of the market’s financial infrastructure.”
“This is exactly the kind of transaction that shows how blockchain infrastructure can improve on traditional settlement rails,” said John Cahill, Chief Operating Officer of Galaxy Asia. “Settling OTC trades in a yield-bearing stablecoin eliminates the friction of moving between treasury and trading positions, that’s the kind of efficiency institutional counterparties have been waiting for, and it will quickly become the standard as more trading moves onchain.”
Arthur Cheong, CEO and CIO of DeFiance Capital, said, “When yield-bearing stablecoins can be used directly for settlement, there is no longer a need to separate trading capital from treasury capital. Using USDO for settlement allows us to stay fully deployed without switching between yield and liquidity, and points to a broader shift in how capital can be managed within digital asset markets.
As institutional adoption of digital assets deepens, stablecoins are increasingly forming the cash layer of tokenized financial systems. The USDO settlement illustrates a practical next step: yield-bearing stablecoins functioning directly within trading and settlement infrastructure, allowing institutions to maintain capital efficiency while remaining within the market flows they already rely on.
About OpenEden
OpenEden operates a leading real-world asset (RWA) tokenization platform, renowned for its unmatched focus on regulatory standards and advanced financial technology. Founded in 2022, OpenEden bridges traditional and decentralized finance by providing, through its regulated entities in Bermuda and the BVI, secure, transparent, and compliant on-chain access to tokenized RWA. OpenEden is tokenizing global finance with a core focus on compliance and innovation. To learn more, visit www.openeden.com.
About Galaxy Digital
Galaxy Digital Inc. (Nasdaq/TSX: GLXY) is a global leader in digital assets and data center infrastructure, delivering solutions that accelerate progress in finance and artificial intelligence. Our digital assets platform offers institutional access to trading, advisory, asset management, staking, self-custody, and tokenization technology. In addition, we develop and operate cutting-edge data center infrastructure to power AI and high-performance computing workloads. Our 800 MW Helios campus in Texas, which has an additional 2.7 GW of power under study, positions Galaxy among the largest and fastest-growing data center developments in North America. The Company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia. Additional information about Galaxy’s businesses and products is available on www.galaxy.com.
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The information in this publication and any distribution or dissemination of it in any form is provided for informational purposes only and does not constitute financial, investment, legal, tax or other advice, nor does it constitute a recommendation or endorsement by OpenEden. The information should not be relied upon as the basis for any investment decision and does not take into account the investment objectives, financial situation or particular needs of any specific investor.
The content is not for publication or distribution, directly or indirectly, in or into the United States of America (including its territories and possessions, any state of the US and the District of Columbia), nor in such jurisdictions where such announcement would require registration and/or approval with any relevant governmental or regulatory authorities (“restricted jurisdictions”). Nothing herein constitutes an offer, solicitation or recommendation to acquire or dispose of any financial products or digital assets in the United States or in any restricted jurisdiction.
The digital assets referred to herein have not been and will not be registered with any regulatory authority or framework, including under the US Securities Act of 1933, as amended and may not be offered or sold in the US or such other restricted jurisdictions, except pursuant to an applicable exemption from registration. No public offering of the digital assets is being made in the US or restricted jurisdictions.
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