According to CoinDesk, DeFi giant Spark has put its plans to launch a mobile app on hold. Phoenix Labs CEO Sam MacPherson said they will focus on what they do best, which is "liquidity infrastructure and trading in DeFi," after investing $1 billion in PayPal's PYUSD.
Mr. MacPherson pointed out that they needed to ensure they had an edge when entering the consumer app store, and that the market opportunity was not clear for them at the moment. As a result, Spark is shifting its focus to institutional use cases rather than developing more retail-oriented solutions. He said the app plan was "on hold" and could still change in the future.
DeFi giant Spark shelves plans for crypto applications to focus on institutional infrastructure
2025-11-20 04:42:09
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