The corporate NovaBay Prescription drugs (NBY) has accomplished a radical transformation of its enterprise mannequin and treasury to rename itself Stablecoin Growth Company (SDEV), as reported on March 23, 2026.
With this step, the corporate additionally introduced that established a treasury of two billion Sky (SKY) tokens, which represents 8.78% of the overall provide of the asset, valued at roughly 147 million {dollars}.
Following the announcement of this strategic pivot in the direction of the decentralized finance (DeFi) ecosystem, the entity’s share worth elevated 22% within the final 24 hours, going from $1.15 to $1.42as seen within the graph.
Michael Kazley, CEO of SDEV, defined the group’s imaginative and prescient for this modification: “We’re creating the principle public market car to entry money flows throughout the rising stablecoin economic system. “The title change to Stablecoin Growth Company displays our perception that stablecoins characterize probably the most engaging structural alternative in digital finance.”
Sky protocol participation and staking rewards
The corporate is utilizing its funds to construct a major place in SKY, the governance asset linked to the Sky protocol.
As of March 16, 2026, the corporate had accrued 26.6 million SKY tokens in staking rewards. Kazley detailed the relevance of this infrastructure for the entity’s new stage: “With greater than 2 billion SKY tokens and an lively staking program that generates rewards on the protocol degree, we’re positioning SDEV on the middle of this quickly evolving ecosystem.”
A lot of the firm’s belongings are at present invested within the Sky protocol staking program. This means that, because the holder of the cryptocurrency, The corporate has a say over the foundations of the monetary system it manages..
The large accumulation by SDEV happens in an ecosystem that has sought to simplify the person expertise for the reason that protocol, beforehand referred to as MakerDAO, introduced its rebranding on August 27, 2024. That initiative sought to strengthen the group’s place within the decentralized finance ecosystem and adapt to the altering wants of the market, as reported by CriptoNoticias.
Evolution of the Sky ecosystem
The event of the protocol included the launch of the USDS stablecoin (which is the renewed model of DAI) on November 7, 2025, which was designed to supply returns to its buyers. This Ethereum asset gives an rate of interest of three.75% per yrthough this proportion could fluctuate relying on market situations.
The operation of stated efficiency is instantly linked to the operation of the platform.
By depositing USDS, customers obtain stUSDS, which capabilities as a digital file of their place and accrued worth throughout the system.
Below this construction, SDEV seeks to capitalize on the circulation of worth inside digital finance by way of its majority stake within the community’s governance token.
