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Spark’s $1 billion allocation to tokenized RWA is expected to significantly boost the rapidly growing tokenized U.S. Treasuries market, which currently stands at $4.6 billion, according to rwa.xyz data

Spark’s Tokenization Grand Prix saw 39 applicants with winners selected based on pricing transparency, liquidity levels, capital efficiency, and strategic alignment with Spark’s objectives

BlackRock, Superstate, and Centrifuge won a competition by the Sky (former MakerDAO) affiliated DeFi lending platform Spark to allocate $1 billion into tokenized real-world assets

USDS, the native stablecoin of Sky’s DeFi lending platform, and its yield-bearing counterpart, sUSDS, could potentially use the tokenized assets received from Spark’s Tokenization Grand Prix as collateral

Spark, a decentralized finance lending platform associated with Sky, held the “Tokenization Grand Prix” in 2024 to accelerate the adoption of real-world asset (RWA) tokenization and diversify its balance sheet by distributing $1 billion to tokenized U.S. Treasury bills

Spark’s assets Tokenization Grand Prix is a part of a broader trend of blockchain-based protocols incorporating tokenized versions of traditional financial assets, such as bonds, funds, and credit

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