NovaBay Pharmaceuticals, Inc. (NYSE American: NBY), a former developer of eyecare, skin care and wound care products, announced that it will be changing its corporate name to Stablecoin Development Corporation, a rebrand that the company said reflects its strategic realignment as an on-chain holding company focused on protocol-aligned digital assets within the Sky protocol ecosystem, a decentralized finance platform. Concurrent with the name change, the company’s shares will begin trading under the NYSE American ticker symbol SDEV beginning on April 3, 2026. Shares of NovaBay Pharmaceuticals (NBY) grew 19 percent following the announcement, according to reputable news sources.
We are building the premier public market vehicle to access cash flows within the growing stablecoin economy, said Michael Kazley, chief executive officer of SDEV. The name change to Stablecoin Development Corporation reflects our conviction that stablecoins represent the most compelling structural opportunity in digital finance. With over 2 billion SKY tokens and an active staking program generating protocol-level rewards, we are positioning SDEV at the center of this rapidly evolving ecosystem.
Following a recent $134 million investment from R01 Fund LP, Framework Ventures, Tether Investments, S.A. de C.V., and Sky Frontier Foundation, Stablecoin Development Corporation said it has acquired 2.06 billion SKY tokens as of March 16, 2026, representing approximately 8.78 percent of the total supply of SKY. This stake underscores the company’s emphasis on building a substantial on-chain asset position within the Sky ecosystem.
Leave a Reply