Standard Chartered Calls SKY the Federal Bank of DeFi

Standard Chartered Bank has officially started following Sky, the project previously known as MakerDAO. In a new report, analysts described the platform as the federal bank of decentralized finance. This label highlights Sky's important role in managing stablecoins and providing liquidity across the crypto market.

The bank expects the SKY token to reach $0.325 by the end of 2028. If this happens, it would represent a massive 500 percent increase from its current valuation. The report suggests that Sky is becoming a fundamental part of the financial landscape, acting much like a central bank for digital assets.

This bullish outlook from a major financial institution shows growing confidence in DeFi infrastructure. Traders are now looking at Sky as a long term play as it continues to evolve. While the market remains volatile, the bank’s support suggests that established protocols are finding a permanent place in the global economy.