DeFi leader Spark has decided to pause its mobile app development to concentrate on enhancing its institutional infrastructure, according to CEO Sam MacPherson of Phoenix Labs. The decision comes as the company aims to leverage its strengths in DeFi-native liquidity infrastructure amid a competitive consumer app market.
Spark, which boasts over $9 billion in total value locked, will focus on institutional use cases, highlighted by its recent $1 billion investment in PYUSD with PayPal. MacPherson clarified that the app is 'paused for now,' citing unfavorable market conditions as a key factor in the decision.
Spark Halts Mobile App Plans to Prioritize Institutional Infrastructure
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