Spark and Uniswap Launch 'FX Layer' for Stablecoin Swaps

Spark and Uniswap have partnered to build a shared liquidity system for stablecoins called the 'FX Layer.'

The system aims to allow institutions to move between dollar-pegged tokens with minimal slippage, reducing the need for multiple liquidity pools and market-making operations.

Spark has deployed approximately $150 million in stablecoin liquidity across two pools on Uniswap v4 to launch the first phase of the project.

The 'FX Layer' pairs USDS with Tether's USDT and PayPal's PYUSD, with Spark acting as the orchestration layer and Uniswap providing the underlying automated market maker (AMM) architecture.