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Sky unveiled Keel, a Solana-native unit that plans to deploy up to $2.5 billion into DeFi and real-world assets. CoinDesk reported debut at 3:30 a.m., saying Keel will channel USDS stablecoin reserves into Solana lending and tokenized-asset strategies. A syndicated version on Yahoo Finance also confirmed roadmap and early integrations with Kamino, Jupiter, and Raydium.
Keel positions itself as Solana’s on-chain “balance sheet,” supporting issuers and protocols. The team’s docs outline mission to back RWA pipelines and credit rails as more assets move on-chain. “The next phase of on-chain finance needs liquidity that can be accessed at speed and scale,” said Cian Breathnach, CEO of Matariki Labs and Keel contributor, adding that Keel aims to catalyze tokenization and lending on Solana.
Sky, formerly MakerDAO, is reshaping into “stars,” each with its own focus. Spark grew on Ethereum, while Grove targets structured credit. Keel is the Solana “star” that connects stablecoin reserves to DeFi and tokenized assets. The plan comes as RWAs on Solana grow and as projects seek faster settlement, lower fees, and simple integrations for compliant issuances.
Past context: Earlier this year Sky launched USDS on Solana to seed liquidity and attract users. Industry trackers note rising RWA activity on the chain as stablecoins, tokenized credit, and fund shares expand. Keel’s dedicated balance sheet could help issuers source working capital, while giving investors clearer routes to yield from real-world cash flows.
