Paxos provides the foundation: regulated issuance, institutional-grade compliance, and the reason enterprises can adopt a stablecoin with confidence in the first place. Spark provides utility to stablecoins by providing the Allocation Intelligence layer, coordinating capital across SparkLend, Spark Savings and the Spark Liquidity Layer, under governance-approved risk parameters rather than a single reactive pool. That's the difference between issuing a stablecoin and building financial utilit...