Spark Launches Key Products to Expand DeFi Reach
DeFi protocol Spark is entering a new phase with three major product launches. These aim to strengthen its presence in both institutional and retail markets. The roadmap focuses on onboarding new capital quickly. The first launches include Savings V2, fixed-rate institutional lending, and the Spark Mobile app.
Savings V2 and Institutional Lending Details
Savings V2 is set to launch on Ethereum in October, pending governance approval. It will support USDT and ETH, expanding beyond the previous USDC-only vault. That vault currently holds $620 million in total value locked (TVL). This upgrade aims to create a multi-asset yield layer competing with traditional money market products.
The institutional lending platform uses Morpho V2 architecture. It will offer fixed-rate loans with over $100 million in initial liquidity. Spark plans to scale this to more than $1 billion. The platform targets large borrowers seeking predictable, on-chain credit options.
Mobile App and Liquidity Expansion
Spark will also launch a mobile app to simplify retail access to its yield and lending services. Additional updates include stablecoin liquidity tools and automated trading systems. These tools will help optimize capital use across the network.
These moves align with Spark’s recent partnership with PayPal. The protocol committed to increasing PYUSD stablecoin supply by $1 billion through its automated liquidity engine. Supported by an $8 billion balance sheet, Spark aims to become a key DeFi backend for institutional stablecoin deployment.
Earlier this month, Spark’s deposits neared $200 million. The protocol has been called a “blueprint” for scaling stablecoins without losing capital efficiency. The new roadmap reinforces Spark’s focus on institutional growth and integration with PayPal’s multichain PYUSD efforts.
