Europe's largest asset manager, Amundi, in partnership with tokenization platform Spiko, has launched a $100 million tokenized fund, marking a significant step in institutional blockchain adoption. The Spiko Amundi Overnight Swap Fund (SAFO) is a regulated, tokenized mutual fund structured under a French SICAV and compliant with EU UCITS standards.
The fund is designed for institutional cash management, offering stable yields above risk-free benchmarks through fully collateralized total return swaps with top-tier banks. It operates across both the Ethereum and Stellar blockchains, providing scalability and accessibility. Investors can subscribe in EUR, USD, GBP, or CHF starting from just one unit, lowering traditional capital barriers.
Chainlink serves as the critical infrastructure, providing automated, on-chain reporting of the fund's Net Asset Value (NAV). This ensures data integrity and transparency, bridging off-chain financial information with blockchain execution. Jean-Jacques Barbéris of Amundi stated the launch is part of the firm's ambition "to contribute to the rise of tokenized solutions," while Spiko's CEO, Paul-Adrien Hyppolite, highlighted the reliability of their issuance infrastructure.
The fund introduces operational innovations uncommon in traditional finance, including near-instant settlement (versus T+1/T+2), real-time shareholder register visibility, and 24/7 global transferability. Its structure allows for programmatic access via APIs and smart contracts, positioning it for integration into digital financial systems. The launch, backed by €100 million in committed assets under management (AUM), signals a shift from experimentation to deployment in tokenized finance for major institutions like Amundi, which manages over €2.3 trillion.
