PANews reported on November 20th that, according to CoinDesk, DeFi giant Spark has decided to suspend its crypto mobile app development plans and instead focus on DeFi-native liquidity infrastructure and institutional trading, such as the recent $1 billion liquidity support for PayPal's stablecoin PYUSD. The CEO of Phoenix Labs, the developer behind Spark, stated that the current market is highly competitive, and the company will focus on its strengths and avoid blindly expanding into the retail sector. Spark currently has a TVL exceeding $9 billion, and the app development plan may still be restarted in the future.PANews reported on November 20th that, according to CoinDesk, DeFi giant Spark has decided to suspend its crypto mobile app development plans and instead focus on DeFi-native liquidity infrastructure and institutional trading, such as the recent $1 billion liquidity support for PayPal's stablecoin PYUSD. The CEO of Phoenix Labs, the developer behind Spark, stated that the current market is highly competitive, and the company will focus on its strengths and avoid blindly expanding into the retail sector. Spark currently has a TVL exceeding $9 billion, and the app development plan may still be restarted in the future.
DeFi protocol Spark has suspended its app launch plans and is shifting its focus to institutional liquidity.
PANews reported on November 20th that, according to CoinDesk, DeFi giant Spark has decided to suspend its crypto mobile app development plans and instead focus on DeFi-native liquidity infrastructure and institutional trading, such as the recent $1 billion liquidity support for PayPal's stablecoin PYUSD. The CEO of Phoenix Labs, the developer behind Spark, stated that the current market is highly competitive, and the company will focus on its strengths and avoid blindly expanding into the retail sector. Spark currently has a TVL exceeding $9 billion, and the app development plan may still be restarted in the future.
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