Standard Chartered just initiated coverage of $SKY.
Sky is "DeFi's federal bank." It issues USDS, sets the rules, and lends wholesale to on-chain agents that have already borrowed 5.9bn.
The bank's call is 5x by 2028, and it hinges on yield-bearing stablecoins taking share of a market SCB sees hitting $2tn.
That's the thesis $SDEV was built on.
Full report coverage, including the risks:
Disclosure: I'm CEO of $SDEV, which holds $SKY. SCB's view, not investment advice.
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