The post PayPal and Spark target $1B liquidity boost for PYUSD appeared on BitcoinEthereumNews.com. PayPal and decentralized finance platform Spark have launched a joint initiative to expand liquidity for PayPal USD (PYUSD). Deposits have already surpassed $100 million since the token was added to SparkLend on Sept 25. The collaboration aims to grow that figure to $1 billion in the coming weeks, offering PayPal a DeFi-native route to scale its stablecoin. Spark, an institutional-grade asset allocator, operates a Liquidity Layer that deploys more than $8 billion in stablecoin reserves into lending markets. This model replaces the short-lived incentive programs traditionally used to grow stablecoin adoption, instead offering predictable borrowing costs and deep market liquidity. Phoenix Labs CEO Sam MacPherson said Spark’s framework shows how “DeFi can provide the reliable market foundations that global companies need to bring stablecoins into the mainstream economy.” PYUSD, which is issued by Paxos Trust Company and backed by US dollar reserves and Treasuries, was launched in 2023 as PayPal’s entry into digital dollars. Its integration with Spark comes as stablecoin supply has surged nearly $30 billion in the past quarter, with daily transaction volumes now exceeding $100 billion. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/paypal-and-spark-target-1b-liquidity-boost-for-pyusdThe post PayPal and Spark target $1B liquidity boost for PYUSD appeared on BitcoinEthereumNews.com. PayPal and decentralized finance platform Spark have launched a joint initiative to expand liquidity for PayPal USD (PYUSD). Deposits have already surpassed $100 million since the token was added to SparkLend on Sept 25. The collaboration aims to grow that figure to $1 billion in the coming weeks, offering PayPal a DeFi-native route to scale its stablecoin. Spark, an institutional-grade asset allocator, operates a Liquidity Layer that deploys more than $8 billion in stablecoin reserves into lending markets. This model replaces the short-lived incentive programs traditionally used to grow stablecoin adoption, instead offering predictable borrowing costs and deep market liquidity. Phoenix Labs CEO Sam MacPherson said Spark’s framework shows how “DeFi can provide the reliable market foundations that global companies need to bring stablecoins into the mainstream economy.” PYUSD, which is issued by Paxos Trust Company and backed by US dollar reserves and Treasuries, was launched in 2023 as PayPal’s entry into digital dollars. Its integration with Spark comes as stablecoin supply has surged nearly $30 billion in the past quarter, with daily transaction volumes now exceeding $100 billion. This is a developing story. This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication. Get the news in your inbox. Explore Blockworks newsletters: Source: https://blockworks.co/news/paypal-and-spark-target-1b-liquidity-boost-for-pyusd

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more