Spark and Uniswap Launch FX Layer Stablecoin Exchange on June 25, Deploying $150M USDS

According to BlockBeats, on June 25, Spark and Uniswap jointly launched FX Layer, a stablecoin exchange system designed to facilitate institutional trading between U.S. dollar-pegged tokens with minimal slippage. The system creates a shared liquidity pool for stablecoin issuers to access.

Spark will migrate $150 million from its USDS ecosystem to Uniswap v4 to establish liquidity infrastructure supporting swaps between USDS, Tether's USDT, and PayPal's PYUSD. FX Layer operates on Uniswap v4 as a shared liquidity and trading infrastructure, enabling banks, fintech companies, and payment providers to access a unified system rather than building separate pools and inventory management individually.