Oracle provider RedStone has gone live with real-time loan-to-value data feeds for Spark’s Bitcoin collateral positions held at Anchorage Digital. The integration means that institutional lenders parking BTC offchain can now have their collateral health tracked continuously onchain, solving one of DeFi’s biggest trust gaps with traditional finance.
Institutions have wanted exposure to DeFi yields for years, but most aren’t comfortable moving billions in Bitcoin onto a smart contract. This setup lets them keep their BTC in institutional custody at Anchorage while still tapping into Spark’s onchain lending markets. RedStone’s LTV feeds are the connective tissue that makes the whole arrangement work.
How the plumbing works
The partnership between Spark and Anchorage Digital officially launched on January 15, 2026. Under this structure, Anchorage serves as the collateral agent, managing LTV ratios and handling margin calls through its Atlas platform.
The initial activity under this arrangement was not small. Three institutional borrowers drew $150 million USDC against $222 million in BTC collateral. That puts the starting LTV at roughly 67.5%.
