Spark doubles tokenised asset allocation to USD 2 billion

By: thepaypers|2025/05/06 19:00:02

The move comes as on chain finance continues to attract greater institutional and retail interest, especially in the Asia-Pacific region and emerging markets. This fresh injection of capital builds upon the original USD 1 billion deployed in the first quarter of 2025 through what Spark referred to as its ‘Tokenization Grand Prix.’ The company, which operates as an on-chain capital allocator, now holds approximately USD 2.4 billion in total value locked across its platform. The initial allocations under the programme directed USD 500 million to BlackRock’s BUIDL, USD 300 million to Superstate’s USTB, and USD 200 million to Centrifuge’s JTRSY. These partners are set to receive further funding from the new allocation. Focus on liquidity and on-chain infrastructure Spark’s suite of products, including Spark Liquidity Layer, Spark Savings, and SparkLend, is designed to address common challenges in decentralised finance (DeFi), such as fragmented liquidity, underutilised capital, and lack of coordination across protocols. Representatives from Spark indicated that the decision to scale up capital deployment was aimed at building on what they described as effective strategies already in place, in response to sustained market interest in tokenisation and real-world asset integration. In the first quarter of 2025, Spark reported approximately USD 40 million in revenue and noted its expansion to Base and Arbitrum networks. The company also launched its Savings USDC Vault, a yield-focused product that has reportedly attracted over USD 41 million in deposits to date. Recent collaborations with protocols such as Maple Finance and RedStone reflect Spark’s continued focus on decentralised liquidity infrastructure. Since December 2024, the platform has generated an estimated USD 164 million in annualised revenue from its allocated capital.

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins