Finance
What to know:
- PayPal USD (PYUSD) deposits on SparkLend skyrocketed past $100 million in just a few weeks. 🚀
- Spark is going full throttle, aiming to pump PYUSD liquidity to a jaw-dropping $1 billion using its $8B stablecoin stash. 💸
- The plan? A “sustainable” stablecoin future, minus those wallet-draining market-maker incentives. Genius, right? 🤔
PayPal and decentralized finance platform Spark are having a *moment*-and by “moment,” I mean they’re trying to blow up liquidity for onchain. The goal? $1 billion. No biggie. Just a casual climb from $100 million. 😏
In case you missed the memo, PYUSD, that lovely stablecoin issued by Paxos (and pegged to the U.S. dollar because, well, that’s how we do things), has just made its grand debut on SparkLend. Welcome to the party! Now, users can lend and borrow PYUSD like it’s going out of style. And liquidity? It’s all backed by Spark’s massive $8 billion stablecoin reserve. 🎉
Now, before you start daydreaming about traditional liquidity programs with their fancy, but very expensive market-maker incentives, let me hit you with this: Spark’s model gives you deep liquidity and set borrowing costs-predictable, like your grandma’s Saturday roast. 🍖
“Predictable access to deep liquidity is the secret sauce for stablecoins like PYUSD to scale super fast,” said Sam MacPherson, CEO of Phoenix Labs, who’s been riding the Spark wave. His words? A roadmap for how fintech companies can just casually stroll into DeFi and *boost* the adoption of fresh stablecoins. 🏆
The partnership couldn’t have come at a better time because stablecoins are *everywhere*, folks. Global supply surged nearly $30 billion in just three months, bringing the grand total to $263 billion. Oh, and daily transaction volumes? Over $100 billion. Just a tiny bit of action happening there. 😅
But wait, there’s more! Spark didn’t just stop at the $630 million on-chain Bitcoin-backed loans to Coinbase. Oh no, that would be too easy. They’re now throwing their weight behind PYUSD as they advance it as the next big thing in DeFi. 👑
“With DeFi value hitting $150 billion, platforms like Spark are now the real MVPs, making PYUSD the cornerstone of deep liquidity in the ecosystem,” said David Weber, Head of PYUSD Ecosystem at PayPal. Look, I didn’t say it, he did. 😎
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2025-09-25 18:37