BlackRock, SuperState, and Centrifuge Selected as Winners of 'One Billion Dollar' Prize Spark Tokenization Grand Prix

SKY Bridge solution liquidity marketplace Spark announced on the 19th that it has selected BlackRock/Securitize, SuperState, and Centrifuge as the winners of its self-hosted contest 'Spark Tokenization Grand Prix'.

The Spark Tokenization Grand Prix is an initiative to diversify Spark's portfolio and promote the adoption of Real World Assets (RWA) tokenization.

In this contest, 39 funds participated and were evaluated on various metrics including liquidity and capital efficiency. The evaluation was conducted by Stake House, an RWA specialist actor in the Spark ecosystem.

First, the first winner, BlackRock BUIDL fund, is a product managed by BlackRock and issued by Securitize that invests in US Treasury bonds, repurchase agreements, and cash. BUIDL will receive a prize of $500 million. Robert Mitchnick, Head of Digital Assets at BlackRock, expressed, "We are pleased that BlackRock BUIDL has been allocated $500 million," adding, "This step emphasizes the increasing convergence of decentralized finance and traditional capital markets."

Following this, SuperState USTB, a short-term US Treasury bond investment fund with a 6-month maturity, and Centrifuge JTRSY will share $300 million and $200 million respectively.

Rune Christensen, co-founder of SKY, said, "Through the SKY allocation system, Spark is providing liquidity to BlackRock/Securitize, SuperState, and Centrifuge," adding, "SKY is pioneering the adoption of real tokenized assets."

Sam McPherson, CEO of Phoenix Labs, the developer of Spark, stated, "Since conducting the contest last year, the demand for tokenized products has increased even more," and added, "If we can onboard such partners, Spark's liquidity, diversification, and robustness can be strengthened."