In accordance with Coindesk, DeFi giant Spark has paused its plans to launch a mobile app, according to CEO Sam MacPherson of Phoenix Labs. MacPherson stated the company will instead focus on its core strength in DeFi-native liquidity infrastructure, citing a competitive consumer app market and the need to maintain a strategic edge. The Spark protocol, which has over $9 billion in total value locked, will prioritize institutional use cases, such as its recent $1 billion investment into PYUSD with PayPal. When asked if the app was canceled, MacPherson said it is 'paused for now,' noting market conditions are not favorable at the moment.
DeFi Giant Spark Pauses Mobile App Plans to Focus on Institutional Infrastructure
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