Spark and Uniswap launch FX Layer stablecoin pool with $150 million migration
DeFi & Yields ·
The two protocols seeded a new stablecoin liquidity pool on Uniswap v4, moving $150 million from Spark's USDS ecosystem to back it.
Spark and Uniswap are building a stablecoin called FX Layer, according to The Block, with the pool launching on Uniswap v4 and drawing its initial liquidity directly from Spark's existing USDS ecosystem. The $150 million migration gives the new pool a substantial starting base rather than relying on liquidity built up gradually over time. Multiple reports in the cluster confirm the same structure: a Uniswap v4 pool, seeded with $150 million, sourced from Spark's USDS holdings.
The launch lands alongside a separate wave of analyst attention on Uniswap's token. Standard Chartered has initiated coverage of Uniswap, forecasting that UNI could reach $100 by 2030. That target is framed by the bank as representing roughly a 40x gain from current levels, according to Decrypt, with some accounts citing the same call as a 37x figure tied to growth in tokenized real-world assets moving into DeFi. The bank's thesis rests on traditional finance activity increasingly settling on-chain, a trend it ties to Uniswap's positioning as infrastructure.
The FX Layer pool itself is not detailed beyond its funding mechanism and venue in the available material — what currencies or assets it will support, how fees or incentives will work, or a specific launch date are not stated. Similarly, the Standard Chartered coverage does not specify a timeline for the 37x-to-40x growth in tokenized real-world assets it cites as the driver behind the $100 UNI target, nor does it lay out interim milestones.
Separately, the Uniswap Foundation has previously disclosed a treasury of $85.8 million, with funding projected to last through January 2027, according to The Block. That runway figure is not directly tied to the FX Layer launch in the available reporting, but it offers context on the resources available to the broader Uniswap ecosystem as it expands into stablecoin infrastructure alongside Spark.
What remains unresolved is how the FX Layer pool performs once live — whether the $150 million in migrated liquidity holds, grows, or shifts elsewhere, and whether Standard Chartered's price forecast draws responses from other analysts covering the token.