Spark Allocates $210 Million to Bitcoin-Backed Institutional Loans

Spark said it has allocated $210 million to institutional loans backed by bitcoin, with the related bitcoin held by digital asset custodian Anchorage Digital. According to ChainCatcher, institutions can borrow USDC while the pledged assets remain with a qualified custodian.Spark provides the loan capital, while Anchorage Digital manages the collateral through its Atlas platform. Atlas is its automated network that offers 24/7 margin monitoring, settlement, and tri-party services within a regulated custody framework.