Uniswap and Spark aims to build the FX market for stablecoins as banks, fintechs enter

Spark, Uniswap build stablecoin 'FX Layer' seeded with $150 million liquidity migration

Spark and Uniswap launched FX Layer on v4: shared stablecoin swap infrastructure (USDS/USDT/PYUSD) with $150M seed liquidity, removing per-issuer setup costs. Banks and fintechs now access common infrastructure at scale; viability depends on 1:1 fungibility across wrapped dollars.