DeFi giant Spark puts crypto app plans on hold, shifts focus to institutional infrastructure.
TechFlame
2025-11-20 04:39
TechFlame2025-11-20 04:39
TechFlame reports that, according to CoinDesk, DeFi giant Spark has temporarily shelved its plan to launch a mobile app. Sam MacPherson, CEO of Phoenix Labs, stated that they will focus their efforts on what they do best—"liquidity infrastructure and trading in the DeFi space"—following their $1 billion investment in PayPal's PYUSD.
MacPherson noted that they need to ensure they have a competitive edge before entering the consumer app market, as the current market opportunity remains unclear for them. As a result, Spark is shifting its focus toward institutional use cases rather than developing more retail-oriented solutions. He emphasized that the app plan is "temporarily on hold" and could still change in the future.