Scan to Download Gate App
qrCode
More Download Options
Don't remind me again today

DeFi protocol Spark has suspended its plan to launch an app and is shifting its focus to institutional liquidity.

PANews November 20 news, according to CoinDesk, DeFi giant Spark has decided to suspend its encryption mobile application development plans and instead focus on DeFi native liquidity infrastructure and institutional trading, such as its recent $1 billion investment in PayPal's stablecoin PYUSD. The CEO of Phoenix Labs, the developer behind Spark, stated that the current market competition is fierce, and the company will focus on its own advantages without blindly expanding into the retail sector. Spark's current TVL exceeds $9 billion, and the app plans may be restarted in the future.

PYUSD-0.02%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)