Spark, an Onchain Capital Allocator focused on optimizing risk-adjusted returns and competitive stablecoin yields, today announced the allocation of an additional $1 billion into tokenized real-world assets (RWAs). This strategic move builds on the initial $1 billion deployed through Spark’s Tokenization Grand Prix in Q1 2025, cementing its position as the leading onchain capital allocator with $2.4 billion in total value locked.
The expanded capital base comes at a time of growing institutional and retail momentum in onchain finance, particularly across Asia Pacific and emerging markets. Spark’s offerings — Spark Liquidity Layer, Spark Savings, and SparkLend — are designed to support this growth while addressing critical market needs such as liquidity fragmentation, idle capital inefficiencies, and cross-protocol coordination.
Spark’s inaugural Tokenization Grand Prix supercharged the adoption of tokenized assets, with the initial injection into BlackRock’s BUIDL, Superstate’s USTB, and Centrifuge’s JTRSY each receiving allocations of $500 million, $300 million, and $200 million respectively. Partners selected in the original Grand Prix will continue to manage the additional capital.
Sam MacPherson, CEO and Co-Founder of Phoenix Labs said: “Spark’s capital expansion is both a response to growing market demand and a strategic decision to scale what’s working. As we strengthen rails that are essential for the next phase of DeFi’s growth, we are leading the charge in demonstrating the real utility of onchain capital allocation, moving from mere experimentation to real market endurance.”
Spark’s recent partnerships with Maple Finance, RedStone, and other top ecosystem protocols highlight its push to expand access and solidify its role in decentralized liquidity. In Q1 2025, Spark generated around $40 million in revenue, expanded to Base and Arbitrum, and launched its Savings USDC Vault — a yield product that has already drawn over $41 million in deposits, signaling strong demand for stable, composable returns.
Together, these strides reinforce Spark’s foundation at a time when liquidity coordination is becoming central to cross-chain performance and long-term protocol resilience. Since launch, Spark has $2.4 billion in allocated assets, generating an estimated annualized revenue of $164 million since December 2024. For more information, visit spark.fi.