Anchorage Digital and Spark launch on-chain loans with off-chain collateral

Crypto bank Anchorage Digital has partnered with DeFi lending protocol Spark to launch an on-chain lending product that utilizes off-chain collateral, The Block reported. According to Anchorage, the product is designed for institutional clients who want to access DeFi-based liquidity but are not accustomed to fully transferring their collateral on-chain.