NovaBay Pharmaceuticals (NYSE American: NBY) is becoming Stablecoin Development Corporation (NYSE American: SDEV).
We're changing our name and ticker to reflect what we're building: the premier public market vehicle for exposure to the stablecoin economy.
Since closing a ~$134M private placement in January 2026 with R01 Fund LP, @hiFramework , @tether , and the Sky Frontier Foundation, we've accumulated over 2 billion SKY tokens (~8.78% of total supply) and begun generating staking rewards through the @SkyEcosystem Protocol.
Trading under SDEV begins April 3, 2026.
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:
https://t.co/0EvtgJiF8H
Disclosure: I'm CEO of $SDEV, which holds $SKY. SCB's view, not investment advice.
Stablecoin Development Corporation Reports Second Quarter 2026 Financial Results
See full press release here: https://t.co/6wSJShmu9k
$SDEV ethereum:0x56072c95faa701256059aa122697b133aded9279 ethereum:0xdc035d45d973e3ec169d2276ddab16f1e407384f
USDS just crossed $10 billion in supply.
@MichaelKazley of @StableDev tells @Ash_TV that supply grew more than 50% in 2025 and is up another 20% in 2026, backed by $13 billion in diversified collateral across real world assets and other stablecoins.
"It really does come down to diversification."
📜 RWAs · $41.8B
Leading sector: Tokenized funds
Leading asset: ethereum:0xa3931d71877c0e7a3148cb7eb4463524fec27fbd
Leading issuer: @SkyMoney
Leading chain: @ethereum
DeFi TVL has declined $14B since this weekend. @sparkfinance has grown approximately 23% over the last two days, now above $4.5B across 7 different chains.
While major lending protocols sit at 100% utilization with trapped depositors, Spark Savings has over $400M in instantly available USDT liquidity.
No frozen markets, no trapped funds, and no single points of failure.
Spark is part of the Sky Agent Network, the ecosystem governed by SKY token holders. Staking rewards generated by the Sky Protocol are the primary revenue driver for SDEV, and moments like this reinforce why: a protocol built on security-first architecture with nearly a decade of operational resilience.
We commend the teams for their thoughtful risk management, and diligence regarding accepted collateral types. Moments like this are hard for DeFi but accelerate long-term winning.
@sparkfinance@SkyEcosystem $SDEV $SKY
Source: @DefiLlama
Proud to have @tether as a strategic investor in Stablecoin Development Corporation.
Institutional participation from the issuer of the world’s largest stablecoin reflects shared conviction in the long-term growth of stablecoin-enabled financial infrastructure. $SDEV
Stablecoin Development Corporation (NYSE: SDEV) was featured on @theCUBE's Crypto Trailblazers at the NYSE.
CEO @MichaelKazley joined @GemmaAllenSays , to discuss our positioning as a public vehicle within the stablecoin economy and our initial SKY strategy.
SDEV begins trading today on the NYSE American.
As of March 31, the Company holds approximately 2.15 billion SKY tokens, approximately 9.15% of total supply, with 35.3 million SKY earned in cumulative staking rewards.
NovaBay Pharmaceuticals (NYSE American: NBY) is becoming Stablecoin Development Corporation (NYSE American: SDEV).
We're changing our name and ticker to reflect what we're building: the premier public market vehicle for exposure to the stablecoin economy.
Since closing a ~$134M private placement in January 2026 with R01 Fund LP, @hiFramework , @tether , and the Sky Frontier Foundation, we've accumulated over 2 billion SKY tokens (~8.78% of total supply) and begun generating staking rewards through the @SkyEcosystem Protocol.
Trading under SDEV begins April 3, 2026.
NovaBay Pharmaceuticals Completes the Sale of its Eyecare Business to PRN and Further Adjourns its Special Meeting of Stockholders on Dissolution Proposal. https://t.co/uYH17nnykq $NBY