[Spark launches Spark Prime and Spark Institutional to provide lending services for institutions like hedge funds] According to CoinDesk, the DeFi protocol Spark announced the launch of two new products, Spark Prime and Spark Institutional Lending, at Consensus Hong Kong 2025. These products aim to connect on-chain stablecoin liquidity with off-chain credit markets for institutions such as hedge funds. The new offerings will allow institutions to access Spark's on-chain stablecoin liquidity pool, which exceeds $9 billion, while adhering to traditional custody and compliance requirements. Spark Prime offers a margin lending model, enabling borrowers to deploy collateral across centralized exchanges, DeFi platforms, and qualified custodians under a unified risk management framework. This structure is supported by the margin and clearing engine of prime broker Arkis, which can automatically liquidate positions across platforms when portfolio risk exceeds thresholds. Spark Institutional Lending, on the other hand, caters to institutions preferring fully custodial participation. By collaborating with custodians like Anchorage Digital, institutions can use assets held in compliant custody as collateral to access liquidity pools governed by Spark.