Spark Commits Additional $1 Billion to Lead Tokenized Treasuries Sector

Spark, an on-chain capital allocator embedded in the recently recluded Sky, formerly Makerdao, ecosystem, says it has committed an extra $ 1 billion with Tokenized Real-World assets (RWAS), in particular supported by American treasury effects.

The expansion brings Spark’s total value locked (TVL) to $ 2.4 billion, making it the leading on-chain allocator, by Defillama facts.

The allocation follows the conclusion of Spark’s “Tokenization Grand Prix”, a months of initiative that award -winning capital To three RWA protocols: BlackRock/Securitize’s Buidl, Superstate’s USTB and Jtrsy from Centrifuge-Anemoy.

“The extensive capital basis comes at a time of growing institutional and retail momentum in Onchain financing, in particular in Asia -Pacific and emerging markets,” ” The platform shared in a statement with Decrypt.

The initial allocation of $ 1 billion, completed after a Sky Governance on 3 April, has deployed $ 500 million in Buidl, $ 300 million to USTB and $ 200 million to Jtrsy.

Spark’s liquidity layer automates the liquidity supply for USDC, including Stablecoins, directly from Sky in various networks and protocols.

The new funds are distributed among the same recipients as Spark’s original $ 1 billion tokenization Grand Prix.

Tokenization -Nation

The latest allocation offers a clearer picture of how tokenized RwasMainly short-term American treasury, are actively assumed as primary reserves by large Defi protocols that want to stabilize the yields and reduce exposure to crypto-native volatility.

The tokenization Grand Prix, launched in July 2024, was an open call for power expenditures to propose RWA products for Spark’s Stablecoin-Stunder Treasury.

Thirty-nine applications were assessed by Steakhouse Financial, a company embedded in the Spark ecosystem with experience that insured RWA protocols.

Evaluations aimed at liquidity, price transparency and coordination with Spark’s goal to integrate low volatility, to integrate asset-generating assets into Defi.

The assets were given on board via the Spark Liquuidity Layer (SLL), which applies stablecoins Including USDC, USDS, Suss, Usde and Susde.

BlackRock’s Puidl Fund in possession About $ 2.81 billion in tokenized American treasuries, making it the largest of the three.

Superstate’s USTB follows with $ 490.7 million, while Jtrsy van Centrifuge is $ 237.1 million, according to Defillama facts.

All three funds are supported by government debt in a short duration and structured to invest as the effects grow up.

Spark’s roll in the air, one Rebranded Makerdaohas grown since the revision of the board was announced in August 2024.

Now operating as an independent “star” (Sky’s designation for modular sub-protocols), Spark has reported around $ 40 million in income in Q1 2025 and launched a USDC savings safe, which according to the protocol attracted more than $ 41 million in deposits.

The protocol also expanded to Arbitrum And Base Earlier this year.

Although many Defi -protocols have investigated exposure to sovereign debts, Spark’s combined $ 2.4 billion deployment places it before colleagues.

Rwa.xyz data to show That total tokenized American treasury assets in the protocols are now crossing $ 3.5 billion, which means that Spark alone is good for more than two-thirds of the current market.

Published by Sebastian Sinclair