Background

Spark has long relied on Morpho vaults for the Spark Liquidity Layer (SLL), deploying assets whenever a high-yield strategy requires isolated execution. Over time, these vaults have grown into major capital hubs within DeFi with over $1 billion in deposits.

Within just seven months of its launch, Spark’s USDC Morpho vault on Base has grown to become the largest in the Morpho ecosystem, attracting over $650 million in deposits. Notably, more than $200 million of that comes from third-party participants, showing the organic demand for the Spark Morpho vaults beyond internal use.

In parallel, Spark has launched high-yield DAI and USDS Morpho vaults on Ethereum mainnet to support high-yield strategies for the Spark Liquidity Layer. Today, the Spark DAI Morpho vault holds roughly $540 million, much of it deployed into PT-USDe looping strategies.

While SparkLend is focused on blue-chip collateral to provide the safest, at-scale money market in DeFi, these Morpho vaults have been critical in accessing high-yield markets not covered by SparkLend, while showcasing how efficiently Spark can allocate capital.

What’s New

Spark is launching a blue-chip USDC Morpho vault on Ethereum, expanding the range of opportunities for users to deploy capital within the Morpho ecosystem.

This new vault builds on Spark’s growing suite of offerings, Spark Savings and SparkLend, and leverages the Spark Liquidity Layer to automatically allocate USDC across the best opportunities in decentralized lending markets on Morpho.

In addition to optimizing onchain lending, Spark will extend vault participation into exchange and fintech earn programs, further broadening the liquidity pathways available. At the same time, Spark will support borrow integrations with platforms like Coinbase, ensuring that the vault plays a central role in powering both sides of the market.

Access the blue-chip USDC vault here:

With this launch, Spark’s curated Morpho vaults now include:

USDC (Ethereum) -New: Spark blue-chip USDC vault. Lending against the lowest risk crypto and real-world assets (RWAs). Curated by SparkDAO which allocates billions in assets across all of DeFi.

USDC (Base) -Existing: Spark blue-chip USDC vault. Lending against the lowest risk crypto and real-world assets (RWAs). Curated by SparkDAO which allocates billions in assets across all of DeFi. https://app.morpho.org/base/vault/0x7BfA7C4f149E7415b73bdeDfe609237e29CBF34A/spark-usdc-vault

DAI (Ethereum) -Existing: Spark high-yield DAI vault. Lending against higher risk crypto and real-world assets (RWAs). Curated by SparkDAO which allocates billions in assets across all of DeFi. https://app.morpho.org/ethereum/vault/0x73e65DBD630f90604062f6E02fAb9138e713edD9/spark-dai-vault

USDS (Ethereum) -Existing: Spark high-yield USDS vault. Lending against higher risk crypto and real-world assets (RWAs). Curated by SparkDAO which allocates billions in assets across all of DeFi. https://app.morpho.org/ethereum/vault/0xe41a0583334f0dc4E023Acd0bFef3667F6FE0597/spark-usds-vault

Why It Matters

The launch of this USDC vault on Ethereum marks a natural evolution for Spark. What began as a way to meet internal liquidity needs has grown into a multi-billion-dollar engine that now anchors liquidity for some of the largest players in DeFi.

By combining blue-chip assets, automated allocation, and deep integrations with both DeFi and fintech platforms, Spark is setting a new standard for how stablecoin liquidity can flow across ecosystems.