Galaxy taps K3 Capital for $30M onchain credit line on Monad
What's the deal? Galaxy Digital has secured a $30 million post-IPO debt facility from K3 Capital, extended onchain through Accountable's vault infrastructure on the Monad blockchain. The facility launched fully subscribed in July 2026, with capacity to expand toward a $100 million target as more limited partners onboard.
How it works: Allocators deposit AUSD stablecoin into a vault that K3 manages, while Galaxy borrows against that supply. Accountable's verification layer provides continuous, onchain proof that capital is deployed as described and that interest is accruing and being distributed as scheduled.
Why it matters: The borrower is a publicly traded company. Galaxy (Nasdaq: GLXY) is subject to reporting obligations across more than a dozen US and international regulators, reporting total equity of $2.8 billion and cash and stablecoin holdings of $2.6 billion as of March 31, 2026.
Each loan carries a 90-day maturity and is rollable, with up to 30% of principal eligible for monthly redemption. Accountable says this is the first onchain credit facility of its kind extended to a borrower with that regulatory and disclosure profile.
Who's involved? K3 Capital, which runs one of the largest delta-neutral DeFi funds with roughly $400 million in assets under management, leads the facility. It ranks among the top operators across lending platforms such as Midas, Euler, and Accountable.
What they're saying: "Traditional credit products run better on DeFi rails," said Kiril Nikolov, founder of K3 Capital. Accountable chief executive officer Wojtek Pawlowski said the setup "gives operators like K3 the flexibility to configure credit products to their specific requirements."
The signal: The deal reflects a push to move institutional credit markets onto public blockchains, pairing a regulated, publicly traded borrower with cryptographic verification. For Galaxy, bringing credit trading onchain extends its Global Markets franchise; for allocators, it tests whether transparency built into the infrastructure can make DeFi credit palatable to institutions.
Read more: Business Insider
Image credit: ITU Pictures
