Lending protocol Spark said it has allocated $210 million to institutional loans secured by Bitcoin. The Bitcoin collateral is held by digital asset custodian Anchorage Digital, while borrowers can draw USDC without moving pledged assets out of qualified custody. Under the arrangement, Spark supplies the lending capital and Anchorage Digital manages the collateral through its Atlas platform. Spark described Atlas as an automated network that provides round-the-clock margin monitoring, settlement, and tri-party services within a regulated custody framework. The disclosure outlines a structure aimed at serving institutional borrowers that want access to USDC liquidity while keeping Bitcoin collateral with a qualified custodian.
According to ChainCatcher, lending protocol Spark said it has allocated $210 million to institutional loans backed by Bitcoin, with the related Bitcoin held by digital asset custodian Anchorage Digital.
Institutions can borrow USDC, while the pledged assets remain with a qualified custodian. Spark provides the loan capital, and Anchorage Digital manages the collateral through its Atlas platform.
Atlas is Anchorage Digital's automated network, offering 24/7 margin monitoring, settlement, and tri-party services within a regulated custody framework.
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