PayPal has increased PYUSD liquidity by listing its stablecoin on SparkLend; deposits exceed $135 million, providing market liquidity and yield opportunities for PYUSD holders across DeFi lending markets.
Over $135M in PYUSD deposits on SparkLend
PayPal partnered with Spark to access onchain lending rails and scalable liquidity deployment.
Stablecoin market cap nearing $300B; DeFi lending TVL up 70% year-to-date per industry reports.
PYUSD liquidity jumps as PayPal teams with Spark: over $135M deposited on SparkLend. Read the full analysis and implications for DeFi liquidity now.
PayPal has teamed up with Spark to boost PYUSD liquidity, with deposits already topping $135 million on the decentralized finance (DeFi) lending protocol.
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PayPal has partnered with decentralized finance (DeFi) protocol Spark to expand liquidity for its US dollar stablecoin, PayPal USD (PYUSD).
PayPal’s stablecoin has attracted more than $135 million in deposits since its August listing on SparkLend, a lending market focused on stablecoins, according to a Thursday statement.
Staked stablecoins on Sparklend protocol. Source: DeFiLlama
Sam MacPherson, co-founder and CEO of Phoenix Labs, a core contributor to Spark, told Cointelegraph that PayPal chose Spark because it “is the only at-scale DeFi protocol that can actively deploy capital into other protocols.” He added that DeFi will provide the rails for broad financial integration in the future.
Spark is a non-custodial lending protocol where users deposit stablecoins into Spark Savings and receive non-rebasing yield tokens. According to Messari, these tokens keep a fixed balance but grow in value as yields are funded through protocol revenue and set by Sky governance.
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PYUSD was added to SparkLend after passing the protocol’s risk assessments. Related coverage: Aave, Sky float partnership to bridge DeFi, TradFi. Magazine note: How Ethereum treasury companies could spark ‘DeFi Summer 2.0’.
PayPal’s PYUSD listing on SparkLend increases onchain liquidity and yields for PYUSD holders while enabling PayPal to deploy stablecoin capital across DeFi lending markets. The move immediately drew over $135 million in deposits and strengthens stablecoin utility in lending markets.
SparkLend, launched from the MakerDAO ecosystem and integrated into Sky, runs the Spark Liquidity Layer backed by over $8 billion in stablecoin reserves. The protocol routes deposited stablecoins into yield opportunities across DeFi, maintaining non-custodial custody and risk controls.
Key mechanics: deposits convert into yield-bearing tokens that track value growth rather than rebasing balances. Governance (Sky) sets yield parameters and funds distributions from protocol revenue streams.
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