Spark allocates $210M to BTC-backed institutional lending

Bitcoin layer-two payments protocol Spark has allocated a total of $210 million to BTC-backed institutional lending in partnership with Anchorage Digital. Institutions can borrow USDC while keeping pledged collateral with a custodian. Spark provides the loan capital, while Anchorage Digital manages collateral through Atlas, a secure automated network that provides 24/7 margin monitoring, settlement and tri-party services within a regulatory framework.