Three institutional borrowers obtained $150 million in USD Coin (USDC) loans by pledging $222 million worth of Bitcoin (BTC) as collateral through a partnership between Spark and Anchorage Digital's Atlas platform. Anchorage Digital acts as the collateral agent, managing collateral levels, payments, and enforcement actions like margin calls and liquidations, ensuring operational rigor and security. This arrangement allows institutions to access decentralized lending liquidity while keeping Bitcoin securely held in qualified custody. As of June 30, Spark's institutional lending had grown to $261 million deployed, highlighting increasing demand for such structured lending solutions.
Spark and Anchorage Digital's Bitcoin-backed lending is the story subject, with Pluang market data as context. As of Sep 29, 2026 01:51 WIB, 12 of 50 major cryptocurrencies rose, 37 fell. Notable movers include AXS at Rp19.786 (-7.22%), BCH at Rp5.593.504 (-7.04%), and SNX at Rp4.376 (-6.85%).
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