PayPal teams up with Spark to boost PYUSD liquidity to $1b
PayPal partnered with the DeFi liquidity platform Spark to bring $1 billion in liquidity to its PYUSD stablecoin.
- PayPal partnered with the DeFi liquidity platform Spark
- The goal is to boost PYUSD liquidity to $1 billion in the coming weeks
- Spark’s Liquidity Layer will deploy $8 billion in reserves into PYUSD pools
The battle for stablecoin dominance is heating up. On Thursday, Sept. 25, PayPal partnered with DeFi liquidity platform Spark to expand on-chain liquidity for its PYUSD stablecoin. The goal is to grow available liquidity to $1 billion, enabling PYUSD to challenge USDT and USDC.
Since its addition to the SparkLend platform, deposits to PYUSD liquidity pools have already surpassed $100. Spark plans to scale this figure to $1 billion in the coming weeks by deploying capital from its $8 billion liquidity reserves.
“Predictable access to deep liquidity is what allows stablecoins like PYUSD to scale quickly,” says Sam MacPherson, Co-Founder and CEO of Phoenix Labs, a core contributor to Spark. “Spark’s framework proves how DeFi can provide the reliable market foundations that global companies need to bring stablecoins into the mainstream economy.”
PayPal plans to tap into DeFi liquidity
Spark’s platform enables users to deploy idle reserves in stablecoin borrowing. For PYUSD, this boosts adoption by making the stablecoin more useful across the DeFi ecosystem.
“With total DeFi value approaching $150 billion, platforms like Spark are crucial to advancing as a cornerstone for DeFi with deep liquidity. By working together, PYUSD can reach new markets faster while maintaining full compliance and composability from day one”, says David Weber, Head of PYUSD Ecosystem, PayPal.
At the time of the announcement, total stablecoin supply rose by $30 billion in the past three months, reaching an all-time high of $295 billion. At the same time, daily transaction volumes regularly touch $100 billion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
S&P Lowers Tether Rating: Concerns Over Risky Reserves and CEO's Claims of Innovation
- S&P Global downgraded Tether's USDT to "weak" (5) due to increased exposure to volatile assets like Bitcoin (5.6% of reserves) and transparency gaps in custodians and reserve management. - Tether CEO Paolo Ardoino dismissed the downgrade as traditional finance's "loathing" of digital assets, emphasizing the firm's overcapitalization and resilience through market crises. - Chinese traders reacted with skepticism and anxiety to the downgrade, despite USDT's $184B market cap and its role as a backbone of th
Ethereum Updates: Bulls Eye $3,468 Amid Emerging Bearish Signals
- Ethereum showed early rebound signs as RSI rose from oversold levels and MACD signaled bullish momentum, though Death Cross patterns highlighted lingering bearish risks. - Bitcoin's rebound above $90,000 revived BlackRock ETF profitability, with $3.2B in unrealized gains, contrasting Ethereum's struggle to break above $3,468 EMA. - Market caution persisted as BitDegree Fear & Greed Index remained in "Fear" territory at 28, reflecting regulatory uncertainty and sideways crypto trading dynamics. - Structur
Ethereum News Today: Ethereum’s Fusaka: Achieving 100,000 TPS While Maintaining Decentralization
- Ethereum developers are finalizing the Fusaka upgrade (Dec 3), introducing PeerDAS to reduce data verification costs and boost layer-2 scalability. - The upgrade enables 100,000+ TPS via BPO forks and 60M gas limit increases, enhancing transaction throughput while maintaining decentralization. - Historical context includes prior upgrades (Merge, Dencun) and market reactions showing mixed sentiment despite improved technical metrics. - Security features like EIP-7934 (10MB block cap) and deterministic pro
Bitcoin Updates: BlackRock's ETF Surges as Competitors Struggle—Is This the Next Benchmark for Crypto?
- BlackRock's IBIT ETF became its top revenue source with $42.8M inflows, outperforming rivals like FBTC (-$33.3M). - Growing investor demand for regulated Bitcoin exposure highlights shifting preferences toward established asset managers. - Sustained inflows reflect institutional adoption trends and hedging against macroeconomic risks via compliant BTC access. - ETF liquidity and transparency advantages position them as bridges between traditional finance and digital assets. - Market watchers monitor flow
Trending news
MoreCrypto prices
More
