TLDR
- Spark allocated an additional $1 billion into tokenized real-world assets (RWAs)
- Total allocation now reaches $2 billion, with $2.4 billion in total value locked
- Initial Grand Prix funded BlackRock’s BUIDL ($500M), Superstate’s USTB ($300M), and Centrifuge’s JTRSY ($200M)
- Spark generated approximately $40 million in revenue in Q1 2025
- Spark has expanded to Base and Arbitrum networks and launched a USDC Vault product
Spark has announced a major expansion of its tokenized asset strategy, allocating an additional $1 billion to real-world assets (RWAs). The move follows the company’s initial $1 billion deployment through its Tokenization Grand Prix initiative launched in Q1 2025.
This latest capital injection brings Spark’s total allocation in tokenized assets to $2 billion. The company now has $2.4 billion in total value locked (TVL) across its platforms, establishing its position as a leading onchain capital allocator.
The expanded allocation comes during a period of growing momentum in onchain finance. Markets in Asia Pacific and emerging economies are showing particular interest in these financial services.
Spark’s suite of products includes the Spark Liquidity Layer, Spark Savings, and SparkLend. These offerings aim to solve common issues in decentralized finance (DeFi) such as liquidity fragmentation and inefficient use of idle capital.
Partners and Allocation Strategy
The original Tokenization Grand Prix saw funds distributed among several partners. BlackRock’s BUIDL received $500 million, Superstate’s USTB got $300 million, and Centrifuge’s JTRSY was allocated $200 million.
These same partners will continue to manage the additional capital from the new $1 billion allocation. This continuity suggests Spark is satisfied with the performance of these initial partnerships.
Sam MacPherson, CEO and Co-Founder of Phoenix Labs, explained the strategy behind the expansion.
“Spark’s capital expansion is both a response to growing market demand and a strategic decision to scale what’s working,” he said.
MacPherson added that the company is “leading the charge in demonstrating the real utility of onchain capital allocation, moving from mere experimentation to real market endurance.”
Expanding Ecosystem and Revenue Growth
Spark has been active in building partnerships across the DeFi ecosystem. Recent collaborations with Maple Finance, RedStone, and other protocols highlight the company’s commitment to expanding access to decentralized liquidity.
The first quarter of 2025 proved productive for Spark. The company generated approximately $40 million in revenue during this period.
Network expansion has been another focus area. Spark recently extended its services to the Base and Arbitrum blockchain networks, increasing its cross-chain presence.
The launch of Spark’s Savings USDC Vault has been well-received by the market. This yield product has attracted over $41 million in deposits, demonstrating user demand for stable returns in the DeFi space.
Since its launch, Spark has been generating steady revenue. The company reports an estimated annualized revenue of $164 million since December 2024.
The additional capital reinforces Spark’s foundation at a time when liquidity coordination is becoming essential for cross-chain performance. The company’s focus on solving liquidity challenges positions it to play a key role in the next phase of DeFi growth.
