Spiko raises $90M as its tokenized funds hit $2.7B

Spiko will use the $90M to expand beyond existing markets

Spiko plans to spend the new capital on three areas: launching funds, entering markets and hiring staff. Its European expansion includes local teams in Germany, Italy, Spain, the Netherlands and the Nordic countries.

The company already runs regulated cash funds covering euros, U.S. dollars, British pounds and Swiss francs. Customers can reach the products through Spiko’s desktop and mobile applications, while banks, fintechs and other financial platforms can connect through an API.

Its customer base ranges from startups and larger technology companies to research institutes, venture capital funds, public bodies and medical practices, according to the funding announcement. Spiko has built the service around corporate cash that businesses do not immediately need for payroll, suppliers and operating expenses.

Paul-Adrien Hyppolite, Spiko’s co-founder and CEO, described the company’s long-term objective as making cash generate yield “by default, around the clock.” Continuous hourly yield accrual is not yet available across its funds. Spiko said it plans to introduce that feature as it develops the platform.

Current withdrawal options vary by product and currency. Spiko’s technical documentation states that instant bank withdrawals are currently available for certain euro-denominated products, with transfers of up to €500,000 per day supported through SEPA Instant. Other redemptions follow the relevant fund’s standard settlement cycle.

Tokenized cash funds let Spiko automate company treasuries

Spiko issues shares in its funds on public blockchains, allowing the ownership records to sit on the same type of infrastructure used by stablecoins and smart contracts.

The structure lets companies set automated treasury rules through Spiko’s API. A business can keep a set amount of cash available for bills, direct excess balances into a cash fund and allocate money that will not be needed immediately into longer-duration products.

Spiko’s flagship UCITS products are authorized by France’s Autorité des Marchés Financiers. Its documentation states that the funds can be distributed in France and in European Economic Area countries where the relevant share classes have been registered.

The company launched its original euro and U.S. dollar Treasury-bill funds in 2024. Shares were issued as blockchain tokens, while the funds themselves invested in government bills and remained subject to conventional fund regulation.

As previously reported in crypto.news coverage of Spiko’s Chainlink integration, the company later adopted Chainlink CCIP to make its tokenized money-market fund shares transferable across supported blockchain networks.

At the time of that July 2025 integration, the products held more than $380 million. Spiko’s latest $2.7 billion figure indicates a substantial increase since then, although the number covers its current range of regulated cash funds instead of only the two Treasury-bill products involved in the original Chainlink deployment.

Spiko says its assets now exceed rival tokenized cash funds

Spiko said it is now the world’s largest issuer of tokenized cash funds, citing RWA.xyz data, and claimed its combined assets rank ahead of comparable products from BlackRock and Franklin Templeton. The comparison applies specifically to tokenized cash funds and does not refer to the firms’ total assets under management.

BlackRock and Franklin Templeton remain major participants in tokenized money-market and Treasury products. In related crypto.news coverage explaining tokenized money-market funds, products such as BlackRock’s BUIDL and Franklin Templeton’s BENJI were among the largest established blockchain-based cash products during 2026.

Competition has grown during the year. BlackRock launched two more tokenized money-market products in August, including structures designed to hold cash, short-term U.S. Treasuries and Treasury-backed overnight repurchase agreements, as previously reported in crypto.news coverage of BlackRock’s tokenized fund expansion.

Franklin Templeton has been expanding how institutions can use its BENJI fund. In September, crypto.news reported that BENJI became available as off-exchange collateral for eligible Bybit institutional customers, allowing fund shares to support USDT or USDC trading credit lines while remaining outside the exchange.

Spiko has followed a comparable path of making its fund shares usable outside simple cash investment. Its 2025 integration with Morpho and Société Générale-Forge allowed eligible investors to pledge EUTBL and USTBL shares as collateral to borrow stablecoins without first redeeming their money-market holdings. Spiko said the arrangement provided 24/7 access to stablecoin liquidity.

Amundi partnership helped push Spiko past $1B in one fund

A major part of Spiko’s expansion came through its work with Amundi.

The companies launched the Spiko Amundi Overnight Swap Fund, or SAFO, in March. The product offers share classes denominated in dollars, euros, pounds and Swiss francs and tracks overnight rates for the relevant currencies. Spiko’s product documentation states that Amundi Asset Management manages the investment strategy.

By July, Spiko said SAFO had passed $1 billion in assets and attracted more than 6,500 users within roughly four months of launch. The company subsequently extended its stablecoin borrowing feature to SAFO shares.

As previously reported in crypto.news coverage of Amundi and Spiko’s Solana fund deployment, the fund was extended to Solana in May as part of a multichain strategy. Spiko serves as the transfer agent and tokenization platform, while CACEIS handles depositary and fund-administration functions.

Spiko’s funding announcement said its current $2.7 billion is spread across regulated products in four currencies and multiple public blockchains. The company did not provide a fund-by-fund breakdown of the entire $2.7 billion in the Series B announcement.

NEA Managing Director and Head of Europe Philip Chopin said the venture firm had examined “dozens of companies” working on parts of the same market before investing. His claim that Spiko has solved both the regulatory and product sides of tokenized cash management represents the investor’s assessment of the company, not an independent industry finding.

Spiko’s next expansion will focus on new fund launches, additional markets and hiring. The company has not disclosed which new countries or investment products will launch first, nor has it given a timetable for introducing the planned continuous, hourly yield accrual across its cash products.