{
  "id": 6806949,
  "title": "172-year-old bank sees 400% upside for 'federal bank' token",
  "url": "https://urgent.news/2026/09/11/172-year-old-bank-sees-400-upside-for-federal-bank-token",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-11T17:33:49.000Z",
  "source": {
    "name": "Yahoo Finance",
    "slug": "yahoo-finance",
    "url": "https://finance.yahoo.com/markets/crypto/articles/172-old-bank-sees-400-173349444.html"
  },
  "original_language": "en",
  "account": "Sky Protocol, originally MakerDAO, is a decentralized finance (DeFi) platform built on Ethereum, renowned for its USDS stablecoin pegged 1:1 to the U.S. dollar. USDS controls a market capitalization over $6 billion and makes up more than 2% of the stablecoin market. The protocol's governance token, SKY, commands a $1.38 billion market capitalization, ranking 62nd among cryptocurrencies. On September 11, Standard Chartered, a 172-year-old bank, began covering SKY with a price target of $0.325 by 2028. Geoff Kendrick, the bank's global head of digital assets research, likened Sky Protocol to a federal bank due to its stablecoin issuance, governance framework, and wholesale lending of assets. SKY also holds the distinction of being the largest issuer of yield-bearing stablecoins. Users can stake USDS for staking rewards and deploy the sUSDS token across the DeFi ecosystem, earning 3.6% APY on sUSDS, per DeFiLlama. SKY token holders primarily benefit from staking rewards, though token buybacks also contribute to returns. At present, SKY trades at $0.065, representing a potential 400% upside from the bank's $0.325 target. Standard Chartered forecasts Bitcoin and Ethereum reaching $300,000 and $18,000, respectively, by the end of 2028, suggesting SKY will trail Ether but outpace Bitcoin throughout the prediction period.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Block",
        "title": "‘DeFi’s federal bank’: Standard Chartered sees SKY token rising fivefold by end-2028",
        "url": "https://urgent.news/2026/09/11/defis-federal-bank-standard-chartered-sees-sky-token-rising-fivefold",
        "published": "2026-09-11T16:48:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}