New capital injection to the Tokenization Grand Prix brings the total tokenised asset allocation to $2 billion.
Onchain capital allocator Spark announced the allocation of an additional US$1 billion into tokenised real-world assets (RWAs). This strategic move builds on the initial $1 billion deployed through Spark’s Tokenization Grand Prix in Q1 2025, leading to a total of $2.4 billion in total value locked.
The expanded capital base comes at a time of growing institutional and retail momentum in on-chain finance, particularly across the Asia Pacific and emerging markets.
Spark’s Tokenization Grand Prix supercharged the adoption of tokenised assets with the initial injection into BlackRock’s BUIDL, Superstate’s USTB, and Centrifuge’s JTRSY each receiving allocations of $500 million, $300 million, and $200 million respectively.
Sam MacPherson, CEO and Co-Founder of Phoenix Labs said: “Spark’s capital expansion is both a response to growing market demand and a strategic decision to scale what’s working. As we strengthen rails that are essential for the next phase of DeFi’s growth, we are leading the charge in demonstrating the real utility of onchain capital allocation, moving from mere experimentation to real market endurance.”
Spark’s recent partnerships with Maple Finance, RedStone, and other ecosystem protocols highlight its push to expand access and solidify its role in decentralized liquidity.
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