According to CoinDesk, the DeFi platform Spark has indefinitely put its consumer application on hold and shifted to a B2B2C model, providing yield and liquidity services to enterprises such as Robinhood. Robinhood Earn’s $200 million treasury operates on Morpho, with Spark serving as one of its three primary collateral sources, enabling access to retail deposits without owning an application or direct customer relationships. Spark’s annual revenue has declined from $80 million during the bull market to $20 million in the bear market; its OTC lending business has an outstanding balance of $260 million, with a target of $1 billion by year-end. Spark has deployed stablecoin swap liquidity on Uniswap v4, routing approximately $1.5 billion in trading volume during its first month, accounting for 30% of all stablecoin-to-stablecoin exchanges.
DeFi Platform Spark Shifts to B2B Model, Partners with Robinhood
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Summary
The DeFi platform Spark has paused its consumer app and transitioned to a B2B2C model, now partnering with Robinhood to provide yield and liquidity services. Robinhood Earn’s $200 million vault operates on Morpho, with Spark serving as one of three collateral sources. Spark’s annual revenue declined from $80 million to $20 million, while its OTC loan book has reached $260 million, targeting $1 billion by year-end. This shift aligns with evolving strategies for altcoins amid a volatile market. Spark’s stablecoin swaps on Uniswap v4 have generated $1.5 billion in trading volume, accounting for 30% of all stablecoin trades. The Fear & Greed Index remains bearish, but Spark’s B2B pivot aims to leverage institutional demand.
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