Spark allocates $210M for institutional loans backed by BTC with Anchorage Digital
Spark set aside $210 million for institutional Bitcoin-backed lending through Anchorage Digital. Three institutional counterparties later borrowed $150 million in USDC against $222 million of BTC collateral. The setup keeps pledged Bitcoin with a qualified custodian through Anchorage Digital’s Atlas platform.
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Institutions using the arrangement are the ones that notice this most directly, because they can borrow USDC while their pledged Bitcoin remains with a qualified custodian managed through Anchorage Digital’s Atlas platform. That changes the mechanics of how the collateral is held and how the borrowing is arranged for those counterparties today.
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