Stablecoin Development Corporation Completes Name Change and Updates SKY Token Holdings and Staking Metrics

On April 6, 2026, Stablecoin Development Corporation (formerly NovaBay Pharmaceuticals, Inc.) announced that its corporate name change is effective and its common stock has commenced trading on the NYSE American under the new ticker symbol 'SDEV.' This transition reflects the company's strategic repositioning as an on-chain holding company focused on digital asset ecosystems, specifically the Sky protocol. The company provided updated metrics regarding its digital asset holdings. As of March 31, 2026, the company held approximately 2.15 billion SKY tokens, representing roughly 9.15% of the total supply. This is an increase from the 2.06 billion tokens held as of March 16, 2026. Since beginning on-chain staking activities, the company has earned approximately 35.3 million SKY tokens in cumulative rewards. Additionally, the company disclosed it has acquired approximately 1.17 billion SKY tokens on the open market at an average price of $0.065 per token since its January 2026 private placement. The company intends to continue evaluating treasury management and staking opportunities to enhance stockholder exposure to the stablecoin economy.