Spark launches institutional OTC crypto lending service

DeFi lending protocol Spark has launched a service to connect off-chain borrowers with on-chain capital, CoinDesk reported. The new offering consists of two products. The first, Spark Prime, is a margin lending model that allows borrowers to post collateral across centralized exchanges, DeFi platforms, and qualified custodians. The second, Spark Institutional Lending, is designed for institutions that prefer a fully custodial approach. Spark plans to offer over-the-counter (OTC) crypto loans through qualified custodians to hedge funds, trading firms, and fintech companies that adhere to traditional custody and compliance standards.