Spark is integrating with @Anchorage, a leading qualified custodian offering tri-party collateral management. Initial borrowers under this structure include three institutional counterparties, which have borrowed $150 million USDC against $222 million of BTC collateral.

This integration accelerates Spark’s expansion of crypto-backed lending at scale, enabling institutional counterparties to access loans via custodial workflows, with robust collateral monitoring and risk controls.