Galaxy launches GOFR, an on-chain lending product for institutions

Foresight News reports that Galaxy has launched its on-chain lending product GOFR for institutions, targeting institutional investors, high-net-worth individuals, and qualified investors. The minimum loan amount is 1 million US dollars, and it offers flexible loan structures and terms.

Galaxy integrates floating lending rates from leading on-chain lending protocols including Aave, Morpho, Spark, and Kamino, and dynamically blends them into a single continuously rebalancing rate. Clients interact directly with Galaxy without needing to interface with individual protocols. Galaxy handles the funding, execution, and servicing of each transaction and monitors collateral within set limits. Counterparties can deposit native Bitcoin as collateral directly into Galaxy, without needing to conduct cross-chain or wrapping operations themselves.