Spark and Uniswap have collaborated to introduce the stablecoin "FX Layer" on Uniswap v4, designed to offer institutions a low-slippage dollar stablecoin conversion infrastructure. This new layer serves as a shared liquidity and settlement system, enabling stablecoin issuers like banks and fintech companies to connect to a unified pool without needing to develop their own market-making systems. Spark will manage liquidity allocation and governance, while Uniswap provides the AMM architecture. To kickstart the initiative, Spark will transfer $150 million in liquidity from its USDS ecosystem to Uniswap v4, establishing a liquidity base for pools supporting USDS, USDT, and PYUSD. USDS, issued by Sky, is currently the third-largest dollar stablecoin, following USDT and USDC.