Anchorage Digital and Spark Enable Institutional Access to Lending Protocol Through Atlas Collateral Management
Anchorage Digital today announced a strategic collaboration with Spark to support institutional crypto-backed lending through Atlas, Anchorage Digital’s collateral management and secure settlement infrastructure. The collaboration enables institutions to access Spark’s deep lending liquidity while keeping collateral securely held in custody at Anchorage Digital Bank—bridging decentralized capital markets with institutional-grade risk management and custodial workflows.
Under the structure, Anchorage Digital acts as collateral agent to Spark, managing collateral operations within Anchorage Digital’s custody framework. Using Anchorage Digital’s collateral management suite, the Atlas team monitors live loan-to-value ratios, processes payments, issues margin calls, and executes liquidations when required.
This model unlocks a critical new pathway for institutional borrowers that want access to DeFi-native liquidity but are not yet comfortable moving collateral fully on-chain. Through Anchorage Digital, borrowers can interact with Spark and its lending markets while their BTC collateral remains held off-chain in qualified custody—combining capital efficiency with institutional controls.
“Institutions want access to the most efficient pools of capital in crypto, but they also require operational rigor, custody, and risk management they can trust. Atlas collateral management allows DeFi protocols like Spark to meet institutions where they are—without compromising on transparency, controls, or speed.”
—Nathan McCauley, CEO and Co-Founder of Anchorage Digital
Initial activity under the partnership includes multiple institutional borrowers who have collectively drawn significant loans against BTC collateral, with collateralization monitored in real time. The structure demonstrates how DeFi lending protocols can expand beyond crypto-native users and serve institutional demand at scale—without asking borrowers to abandon custodial workflows.
For lending protocols, the collaboration offers a blueprint for standing up institutional lending operations without building collateral management, monitoring, and liquidation infrastructure in-house. By outsourcing these functions to Anchorage Digital, protocols can focus on capital formation and market design while reaching a broader class of borrowers previously hesitant to engage directly with DeFi.
For institutional borrowers, the collaboration provides direct access to some of the most competitive crypto-backed lending terms available—without intermediaries and without moving collateral out of Anchorage Digital custody. This keeps assets secure, simplifies operations, and unlocks capital that has historically been difficult to access through traditional lending channels.
As institutional demand for crypto-backed credit continues to grow, Atlas collateral management positions Anchorage Digital as the connective tissue between regulated custody and protocol liquidity. For on-chain lenders seeking to expand their addressable market—and for institutions seeking efficient access to capital—the message is clear: institutional protocol lending is here, and it’s ready to scale.
If you’d like to learn more about our Atlas platform, please get in touch.
About Spark:
Spark is the leading institutional-grade asset allocator for digital assets, unlocking idle yield and consolidating fragmented liquidity across decentralized finance. By activating over $9 billion in reserves, Spark provides deep, scalable liquidity and risk-adjusted returns through transparent, governance-defined mechanisms for both institutions and retail users. With a highly robust risk framework, Spark delivers industry-leading transparency as it builds decentralized financial infrastructure to connect global capital opportunities at the speed of the internet, making finance more open, efficient, and accessible.
Official Handles:
X (Twitter) - https://x.com/sparkdotfi
LinkedIn - https://www.linkedin.com/company/sparkdotfin/
Discord - https://discord.gg/sparkdotfi
Website - https://link.spark.fi/Anchorage
Press Contacts:
Anchorage Digital
press@anchorage.com
About Anchorage Digital
Anchorage Digital is a global crypto platform that enables institutions to participate in digital assets through trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s leading security infrastructure. Home to Anchorage Digital Bank N.A., the first federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, which is licensed by the Monetary Authority of Singapore; Anchorage Digital NY, which holds a BitLicense from the New York Department of Financial Services; and self-custody wallet Porto by Anchorage Digital. The company is funded by leading institutions including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. Learn more at anchorage.com, on X @Anchorage, and on LinkedIn.
This post is intended for informational purposes only. It is not to be construed as and does not constitute an offer to sell or a solicitation of an offer to purchase any securities in Anchor Labs, Inc., or any of its subsidiaries, and should not be relied upon to make any investment decisions. Furthermore, nothing within this announcement is intended to provide tax, legal, or investment advice and its contents should not be construed as a recommendation to buy, sell, or hold any security or digital asset or to engage in any transaction therein.
Anchorage Digital Bank National Association offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.
