Spark, the lending arm of the Sky ecosystem, has set aside $210 million for institutional loans backed by Bitcoin and held in custody by Anchorage Digital. This partnership combines decentralized finance's efficiency with regulated custody, allowing institutions to borrow stablecoins against BTC without moving their Bitcoin fully on-chain. Three institutions have already borrowed $150 million in USDC against $222 million in BTC, maintaining a collateralization rate of about 148%. The setup uses Anchorage’s Atlas platform to manage collateral and risk, with real-time data from RedStone oracles enhancing loan monitoring. This approach appeals to institutions by blending traditional regulatory compliance with decentralized liquidity, and the Anchorage channel has shown strong growth and returns within Spark’s portfolio.
Spark's $210 million allocation for institutional BTC-backed loans provides context for cryptocurrency market activity. For readers following major cryptocurrencies on Pluang, here is the market snapshot as of Sep 29, 2026 01:51 WIB: out of 50 major cryptocurrencies, 12 rose and 37 fell today. Notable movers include COTI with a 10.44% decline and 80% buy order activity, UNI down 8.41% with 65% sell orders, and EOS up 8.13%.
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