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PayPal collaborates with Spark to promote the rise of PYUSD liquidity to 1 billion USD.
According to Deep Tide TechFlow news on September 25, CoinDesk reported that PayPal has partnered with the decentralized finance platform Spark to expand the on-chain liquidity of PayPal USD (PYUSD) from the current 100 million USD to 1 billion USD through decentralized finance lending.
PYUSD is issued by Paxos and pegged to the USD, and has been integrated into Spark's lending market SparkLend. This integration allows users to provide and borrow PYUSD, with liquidity supported by Spark's $8 billion stablecoin reserve pool. Within just a few weeks of its launch, deposits of PYUSD on SparkLend have exceeded $100 million.
Sam MacPherson, CEO of Phoenix Labs, stated that predictable deep liquidity access is key to the rapid expansion of stablecoins like PYUSD. This cooperative model contrasts with traditional liquidity programs that rely on costly market maker incentives, providing predictable depth by setting borrowing costs.