Uniswap, Spark aim to build stablecoin FX market as banks, fintechs enter the industry

The protocols are building shared liquidity and trading infrastructure for a future with hundreds of competing digital currencies on blockchain rails.

Melinda 17 hours ago 2 minutes read

Finance

Uniswap, Spark aim to build stablecoin FX market as banks, fintechs enter the industry

The protocols are building shared liquidity and trading infrastructure for a future with hundreds of competing digital currencies on blockchain rails.

By Krisztian Sandor|Edited by Sheldon Reback

Jun 25, 2026, 1:00 p.m.

2 min read

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Uniswap is working with Spark to build an FX system for stablecoins. (appshunter.io/Unsplash)

Summary

Spark and Uniswap are building a shared liquidity infrastructure for stablecoins.
The initiative starts with a $150 million liquidity migration supporting USDS, USDT and PYUSD.
The effort comes as banks, fintechs and payment firms increasingly explore issuing stablecoins.

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In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

Why it matters:

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high.

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