PayPal and Spark Forge $1B Liquidity Reserve Deal to Boost Stablecoin Access

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2025-09-25 16:06:01

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PayPal and Spark, an on-chain asset allocator launched by Sky (formerly MakerDAO), have partnered to expand liquidity for PayPal USD (PYUSD), a U.S. dollar-backed stablecoin. The collaboration aims to grow PYUSD supply by $1 billion within weeks, building on existing deposits of $200 million. Spark's bootstrapping framework has proven effective in scaling stablecoin adoption, with PYUSD deposits on SparkLend already surpassing $100 million.

"Predictable access to deep liquidity is what allows stablecoins like PYUSD to scale quickly," said Sam MacPherson, CEO of Phoenix Labs, a core contributor to Spark. The initiative leverages Spark's $8 billion-plus stablecoin reserves, deploying capital through its institutional-grade markets to create reliable foundations for mainstream stablecoin adoption.

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