Anchorage unlocks onchain lending using off-chain collateral via Spark

Anchorage Digital has partnered with Spark, a DeFi credit solution associated with Sky (formerly MakerDAO), to allow its custody clients to engage in onchain lending without moving their assets out of off-chain storage at Anchorage Digital Bank. This model is designed to attract institutional borrowers who want DeFi liquidity but are hesitant to place collateral fully on-chain. Anchorage's collateral and settlements platform, Atlas, will serve as the collateral agent for Phoenix Labs (Spark's R&D firm). While Phoenix Labs takes legal title over pledged assets, Atlas will manage crucial functions like monitoring loan-to-value ratios, processing payments, issuing margin calls, and executing liquidations. Anchorage CEO Nathan McCauley stated this arrangement allows DeFi protocols like Spark to meet institutional demands for capital efficiency while providing the necessary operational rigor and risk management trust institutions require.

(Source：The Block)