Launched in July 2024 the Spark Tokenization Grand Prix accelerates the adoption of real-world tokenised assets.
Onchain capital allocator Spark announced that BlackRock/Securitize, Superstate, and Centrifuge have been selected as the winning applicants of the Spark Tokenization Grand Prix
Designed to onboard up to US$1 billion in tokenised assets to the Spark Liquidity Layer (SLL), the initiative aims to diversify Spark’s portfolio and drive the adoption of real-world asset (RWA) tokenisation.
The competition received 39 applications which were reviewed by Steakhouse Financial, a key Spark ecosystem actor. Applications were assessed based on several key metrics, including the balance between high liquidity and capital efficiency. The total liquidity allocation, subject to market demand and up to a maximum value of $1 billion, will be distributed proportionately to the winning applicants.
The selected winners were BUIDL by BlackRock, tokenised by Securitize; USTB by Superstate; and JTRSY by Centrifuge.
Sam MacPherson, CEO at Phoenix Labs, commented: “Since the launch of this competition last year, demand for cutting-edge tokenised products has only grown. Onboarding these partners will strengthen the liquidity, diversification, and robustness of the Spark Liquidity Layer, supercharging Spark’s journey to becoming the growth engine for DeFi.”
Rune Christensen, co-founder of Sky, commented: “Sky pioneered the adoption of real-world tokenised assets, strategically diversifying its collateral pool to grow over the last three years. Now, through the Sky’s Allocation system – a critical element in the Sky Agent Framework – Spark is providing the liquidity to bring on BlackRock/Securitize, Superstate, and Centrifuge. More than just a milestone for DeFi, this is a great example of how Star Agents can drive innovation and speed for the ecosystem while creating fantastic opportunities for themselves and their partners.”
Robert Mitchnick, Head of Digital Asset at BlackRock, said: “We are pleased to support the Spark Tokenisation Grand Prix’s allocation of up to $500 million into our tokenised stable value yield fund, BUIDL. This step underscores the growing convergence of decentralised finance and traditional capital markets, highlighting the role that institutional-grade investment vehicles can play in the technology innovation underway in the financial ecosystem.”
