As reported on March 23, 2026, Novavay Pharmaceuticals (NBY) has completed a fundamental transformation of its business model and finances and changed its name to Stablecoin Development Corporation (SDEV).
Along with this action, the company also announced: Established a treasure trove of 2 billion Sky (SKY) tokens, This represents 8.78% of the total supply of assets and its value is approximately $147 million.
Following the announcement of a strategic shift to the decentralized finance (DeFi) ecosystem, the company’s stock price Up 22% in the past 24 hours, from $1.15 to $1.42As seen in the graph.
SDEV CEO Michael Kasley explained the organization’s vision for this change: “We are building the primary public market vehicle for accessing cash flow in the growing stablecoin economy. The name change to Stablecoin Development Corporation reflects our belief that stablecoins are the most attractive structural opportunity in digital finance.”
Joining the Sky Protocol and Staking Rewards
The company is using the funds to build a significant position in SKY, a governance asset related to the Sky Protocol.
As of March 16, 2026, The company had accumulated 26.6 million SKY tokens as staking rewards.. Elaborating on the relevance of this infrastructure to the company’s new phase, Kasley said, “With over 2 billion SKY tokens and an active staking program that generates rewards at the protocol level, we are positioning SDEV at the center of this rapidly evolving ecosystem.”
Most of the company’s assets are currently invested in the Sky Protocol staking program. This means that as a cryptocurrency owner, The company has a say in the rules of the financial system it manages..
The large accumulation by SDEV comes within an ecosystem where the protocol formerly known as MakerDAO announced its rebranding on August 27, 2024, and has since sought to simplify the user experience. As reported by CriptoNoticias, the initiative aimed to strengthen the organization’s position in the decentralized finance ecosystem and adapt to changing market needs.
Evolution of the Sky ecosystem
The development of this protocol included the launch of the USDS stablecoin (a relaunched version of DAI) on November 7, 2025, with the aim of providing returns to investors. This Ethereum asset offers an annual interest rate of 3.75%However, this percentage may vary depending on market conditions.
The management of this performance is directly connected to the operation of the platform.
When depositing USDS, users receive stUSDS. stUSDS acts as a digital record of your position and accumulated value within the system.
Under this structure, SDEV seeks to leverage the flow of value within digital finance through a majority stake in the network’s governance token.
(Tag translation) Cryptocurrency
