Spark and Uniswap have teamed up to launch the stablecoin exchange system <strong>「FX Layer」</strong>.

BlockBeats News, June 25th, Spark and Uniswap jointly launched the stablecoin exchange system "FX Layer." FX Layer is designed to help institutions trade between USD-pegged tokens by creating a shared pool accessible to the issuers, reducing slippage to a minimum.

Spark stated that it would migrate $150 million from its USDS ecosystem to Uniswap v4 to establish a "liquidity foundation" to support the interchange pool of USDS, Tether's USDT, and PayPal's PYUSD.

FX Layer serves as shared liquidity and trading infrastructure on Uniswap v4, enabling multiple stablecoin issuers such as banks, fintech companies, and payment companies to access a common system instead of each building and launching their liquidity pools, market makers, and inventory management. Spark acts as an orchestrator layer determining how to allocate, manage, and coordinate liquidity between different stablecoins, while Uniswap provides a programmable AMM framework.