According to CoinDesk, DeFi giant Spark has temporarily shelved its plans to launch a mobile app, as reported by Mars Finance. Sam MacPherson, CEO of Phoenix Labs, stated that they will focus their efforts on their core strengths: "liquidity infrastructure and trading in the DeFi space," following their $1 billion investment in PayPal's PYUSD. MacPherson noted that they need to ensure a competitive edge when entering the consumer application market, where opportunities are currently unclear. Therefore, Spark will shift its focus to institutional use cases rather than developing more solutions for retail users. He stated that the app plans are "temporarily shelved" and could change in the future.
DeFi giant Spark has shelved its crypto application plans and is instead focusing on institutional infrastructure.
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