Spark has announced that BlackRock, Superstate, and Centrifuge are the winners of its Tokenization Grand Prix. The goal is to allocate $1 billion in tokenized assets, with BlackRock’s BUIDL fund set to receive half of it. The competition, launched in July 2024, allocated funds through the Spark Liquidity Layer (SLL). The initiative aimed to integrate real-world assets (RWAs) to diversify Spark’s balance sheet while expanding stablecoin adoption in DeFi.
The competition attracted 39 applications, reviewed by Steakhouse Financial, a firm specializing in RWAs within the Spark ecosystem. Applicants were assessed based on pricing transparency, liquidity levels, and strategic alignment with Spark’s objectives. Spark picked each of these RWA tokens backed by US Treasury securities, suggesting a preference for liquid and conservative assets.
