Spark Records More Than $14 Billion in Stablecoin Swaps in First Month

Spark’s stablecoin swap service recorded more than $14 billion in volume during its first month, while the DeFi protocol’s net returns exceeded $4 million in the third quarter as returns tied to Spark Savings USDT growth moved above funding costs. Spark launched the swap layer with Uniswap and Sky with $150 million in USDS liquidity. The service is designed for banks, fintech companies and payment firms. The third-quarter returns followed a difficult first half for DeFi lending.