Spark — ✨Powering DeFi with $2.6B+ in liquidity. Supply, borrow, & earn with ultra-competitive rates, seamless access, and scalable liquidity.

Building the Exchange Infrastructure for a Multi-Stablecoin Economy

Hundreds of Stablecoins. One FX Layer. As regulated digital assets move deeper into mainstream finance, the next challenge is connecting a growing number of stablecoins through liquidity infrastructure built to scale with them. Something significant is happening in US banking infrastructure. Over the past 18 months, nearly six in ten applications for new bank charters received by the OCC have involved some form of digital-asset activity. Applicants include @Ripple, @Coinbase, Fidelity Digital...

Why Stablecoin Issuance Is Only the Beginning

From trusted issuance to financial utility.

Spark Q2 2026 Financial Report

Dear Spark community, Below is the Q2 2026 financial report.

Spark Savings on Arbitrum Now Supports USDT0

Spark Savings on Arbitrum now supports the three largest stablecoins by market capitalization: USDC, USDS and, from today, USDT via USDT0. For wallets, treasury platforms and other builders, that means users can access Spark Savings while staying in the stablecoin they already hold, through a single savings infrastructure. Here’s why this is important for the programmable economy future we’re building towards. Why this isn't "just another USDT deployment" Arbitrum has bridged USDT for years. ...

Why Robinhood's USDG Launch Matters Beyond Crypto Earn

The Race to Build the Financial Layer Around Stablecoin Ecosystems

Spark, Uniswap and Sky: Building the FX Layer for stablecoins

How programmable liquidity is creating the next generation of stablecoin market infrastructure Everyone is focused on launching stablecoins: PayPal launched PYUSD. Ripple launched RLUSD. Revolut, Deel and Robinhood are all exploring stablecoin initiatives or related infrastructure. In Europe, a consortium of major banks including ING, BBVA and BNP Paribas is working towards a regulated euro stablecoin. In Japan, MUFG, Mizuho and SMBC are exploring stablecoin initiatives of their own. Visa, Ma...

A New Path from Custody into On-Chain Credit Markets

Spark is now available via BitGo, enabling institutional capital to be deployed into on-chain credit markets through structured allocation.

Spark Security Framework

Bounded Risk, Explicit Loss Hierarchy, and Coordinated Liquidity

When Credit Markets Reach Scale, Execution Becomes the Constraint

Crossing $1B in USDT Savings is considered an exciting milestone, but its real significance lies in what it represents: a transition in the market itself.

• On-chain
• Credit
• Usdt

Savings V2 Launches

Spark is on a mission to simplify DeFi. Savings V2 is the next step in achieving this goal by providing the Spark Universal Savings Rate (SUSR) to all major stablecoins across all major chains. Initially launching with support for USDC, USDT and ETH on Ethereum mainnet, Savings V2 will be progressively rolled out to more chains and stablecoins over the coming months.https://app.spark.fi/ (Snapshot taken Oct 14, 2025)A More Secure Approach to SavingsSpark Savings takes a conservative approach ...

Spark, Uniswap and Sky: Building the FX Layer for stablecoins

How programmable liquidity is creating the next generation of stablecoin market infrastructure Everyone is focused on launching stablecoins: PayPal launched PYUSD. Ripple launched RLUSD. Revolut, Deel and Robinhood are all exploring stablecoin initiatives or related infrastructure. In Europe, a consortium of major banks including ING, BBVA and BNP Paribas is working towards a regulated euro stablecoin. In Japan, MUFG, Mizuho and SMBC are exploring stablecoin initiatives of their own. Visa, Ma...

Spark Q4 2025 Financial Report

Dear Spark community, Below is the Q4 2025 financial report. 1. Executive SummarySpark closed Q4 in a strong financial position, based on internal estimates derived from onchain data and governance-defined mechanisms. The quarter reflected sustained yield generation and efficient capital deployment across Spark’s core protocol components, with distribution rewards, the Spark Liquidity Layer, and SparkLend representing the primary contributors to protocol-level returns despite a more challengi...

• Financials
• Revenue
• Report

Spark Roadmap: The next 6 months

A look back2025 has been a busy year for Spark. The year started with the launch of the Spark Liquidity Layer (SLL). This cross-chain, multi-asset allocation system enables Spark to access new lending opportunities, such as the Coinbase BTC Borrow product, which now supports $500 million of onchain loans directly to Coinbase users on Base. Coinbase kicked things off, but it is expected that most exchanges/fintechs will follow suit as the world races to get onchain. This is due to the cheap ca...

Spark Prime: CeDeFi Margin Lending

An Institutional-Grade, Junior-Capital Vault for USDS

Spark Q3 Financial Report

Dear Spark Community, Below is the Q3 2025 financial report, covering Spark’s first full quarter under its own P&L. 1. Executive Summary - The start of Q3 marked a pivotal moment for Spark, with the official launch of Spark’s P&L on July 1st, 2025. Prior to this, Spark operated under SKY, which covered all expenses while retaining the revenues generated by Spark - At launch, Spark received an initial seed allocation of 25M USDS, establishing a robust foundation for future growth. - During Q3 ...