WBTC is now live on Spark, from 31st March, opening another opportunity for Bitcoin holders to access liquidity through DeFi. With over $8B in total value, 119,000+ BTC in custody, and a dominant share of WBTC supply and lending usage, the listing reflects where users already are.
WBTC is the go-to Bitcoin collateral in DeFi. With this listing, users will be able to deposit WBTC as collateral on SparkLend and borrow supported stablecoins on SparkLend.
Using WBTC on SparkLend
SparkLend is Spark’s lending protocol, designed to provide a straightforward way for users to access liquidity while keeping their assets on-chain.
Through this integration, WBTC can be used as collateral to borrow stablecoins, including:
USDT
USDC
sUSDS
DAI
PYUSD
This allows WBTC holders to unlock liquidity while maintaining exposure to Bitcoin.
The process is simple:
Deposit WBTC as collateral on SparkLend
Borrow supported stablecoins available on the platform
Repay the loan and withdraw collateral when ready
By enabling WBTC as collateral, SparkLend expands the range of options for users seeking liquidity in the DeFi ecosystem.
Expanding Bitcoin’s Role in DeFi
Bitcoin remains the largest digital asset by market capitalization, but historically its on-chain utility has been limited compared to other blockchain ecosystems.
WBTC plays a key role in bringing Bitcoin into DeFi, enabling BTC holders to interact with decentralized applications across multiple networks.
The listing of WBTC on Spark represents another step in expanding how Bitcoin can be used within decentralized finance. By integrating with lending infrastructure like SparkLend, WBTC continues to provide Bitcoin holders with new ways to access DeFi without selling their BTC exposure.
Getting Started
The WBTC listing on Spark is now live. Users interested in utilizing WBTC as collateral can explore the SparkLend platform.
Learn more: https://app.spark.fi/borrow
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Disclaimer: Information provided is for information purposes only and is not financial advice. No representation or warranty has been made as to the content, accuracy, timeliness, suitability or completeness of such information. Participation in DeFi carries risks, always do your own research.