Sam MacPherson(@hexonaut):This is exactly the problem the Stablecoin FX Layer solves. As one of the primary backing assets for the Robinhood Earn vault, Spark will have large amounts of USDG inventory from Spark Savings USDG. Combine this with the 4.5b in USDC, ~400m USDT, 350m PYUSD, people will be able to get in and out of USDG at scale without going through banking system and paying redemptions fees. Unlike market makers, Spark is already holding this inventory for liquidity needs, so the cost of MM is basically zero. Top pairs on Uniswap by volume are already USDS/USDT + USDS/PYUSD.

Sam MacPherson

@hexonaut

Co-founder / CEO @sparkdotfi ⚡️ Previously Protocol Engineering MakerDAO (@Skyecosystem)

Joined July 2011

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Sam MacPherson@hexonaut

2026.07.11 19:24

This is exactly the problem the Stablecoin FX Layer solves. As one of the primary backing assets for the Robinhood Earn vault, Spark will have large amounts of USDG inventory from Spark Savings USDG. Combine this with the 4.5b in USDC, ~400m USDT, 350m PYUSD, people will be able to get in and out of USDG at scale without going through banking system and paying redemptions fees. Unlike market makers, Spark is already holding this inventory for liquidity needs, so the cost of MM is basically zero. Top pairs on Uniswap by volume are already USDS/USDT + USDS/PYUSD.