**[Spark and Uniswap Jointly Launch Stablecoin Exchange System "FX Layer"]** Foresight News reports, according to The Block, that FX Layer aims to help institutions trade between dollar-pegged tokens by creating a shared pool for issuers to connect to, minimizing slippage. Spark stated that it will migrate $150 million from its USDS ecosystem to Uniswap v4 to establish a "liquidity foundation" for the swap pool supporting USDS, Tether's $USDT, and PayPal's $PYUSD. FX Layer acts as shared liquidity and trading infrastructure on Uniswap v4, enabling multiple stablecoin issuers—such as banks, fintech companies, and payment firms—to connect to a universal system instead of building and launching their own liquidity pools, market makers, and inventory management. Spark serves as the orchestration layer, determining how to allocate, manage, and coordinate liquidity across different stablecoins, while Uniswap provides the programmable AMM architecture.