Money Market Fund shares
in your wallet
The Spiko Funds are the world's first MMFs available to all investors that allow you to custody their tokenized shares in your own wallet. Discover the safest way to earn TradFi's risk-free rates on-chain!
Treasury Bills issued by the U.S. government
Treasury Bills issued by the most stable Eurozone countries
*Annualized performance, net of fees, over the past 31 days. Rates are updated daily and may fluctuate based on changes in Treasury bill yields.
Many Web3 startups and foundations are using Spiko:
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Web3 use cases
Discover how our clients use Spiko's tokenized fund shares.
On-chain cash management
On-chain reserves for stablecoin issuers
On-chain collateral for borrowers and institutions
USTBL and EUTBL provide access to U.S. and European Treasury bill yields, making them an excellent option for optimizing your treasury allocation, especially if you hold stablecoins and are missing out on the risk-free rate.
USTBL and EUTBL are, from a regulatory and legal standpoint, tokenized shares of money market funds domiciled in the European Union and approved by the French Financial Markets Authority (AMF) as money market UCITS. They can serve as on-chain reserves for issuers of dollar or euro stablecoins.
USTBL and EUTBL can be used as on-chain collateral to secure OTC transactions or with counterparties, such as spot/derivatives trading venues or prime brokers.
On-chain cash management
USTBL and EUTBL provide access to U.S. and European Treasury bill yields, making them an excellent option for optimizing your treasury allocation, especially if you hold stablecoins and are missing out on the risk-free rate.
On-chain reserves for stablecoin issuers
USTBL and EUTBL are, from a regulatory and legal standpoint, tokenized shares of money market funds domiciled in the European Union and approved by the French Financial Markets Authority (AMF) as money market UCITS. They can serve as on-chain reserves for issuers of dollar or euro stablecoins.
On-chain collateral for borrowers and institutions
USTBL and EUTBL can be used as on-chain collateral to secure OTC transactions or with counterparties, such as spot/derivatives trading venues or prime brokers.
Our partners
Custodian and fund admin
CACEIS, a subsidiary of the Crédit Agricole group, handles asset custody and manages the funds' accounting.
Sub-Custodian
BNY acts as the sub-custodian for U.S. T-Bills, safeguarding and managing the physical and electronic records of the T-Bill holdings on behalf of the fund.
Correspondent Bank
JPMorgan Chase facilitates the settlement and transfer of USD for the fund
Fund auditor
PwC performs a semi-annual audit of the funds' to ensure accuracy and compliance with current standards and regulations.
Management company
TFC specializes in buying and selling Treasury Bills in line with subscriptions and redemptions.
Web3 auditor
Trails of Bits perfomed a security audit of the smart contracts governing the funds. Their audit report is available in our documentation.
Oracle provider
Chainlink Labs publishes the daily value of EUTBL and USTBL tokens on-chain.
Your security is our priority
Your cash is exclusively invested in Treasury Bills, which are the safest financial assets available. Plus, it is securely held by one of the world's largest custodian banks, a subsidiary of the Crédit Agricole group. Your cash is never held by Spiko.
Frequent questions
What are EUTBL and USTBL?
EUTBL and USTBL are shares of the Spiko Money Market Funds, the first tokenized money market funds approved and regulated by a national competent authority within the European Union. The Spiko Funds are registered as UCITS MMFs under EU law.
What is the minimum subscription amount to acquire EUTBL or USTBL on the primary market?
The minimum amount for the first subscription is 1,000 EUR or USD. The minimum amount for subsequent subscriptions is 1 EUR or USD. The minimum withdrawal amount is 1 EUR or USD.
Who can hold EUTBL and USTBL?
We welcome both retail and professional investors from most jurisdictions, excluding the United States, sanctioned countries, and a few other jurisdictions. A complete list of restricted jurisdictions can be found in our documentation.
Are EUTBL and USTBL freely transferable on-chain?
Yes, but only between investors known to Spiko - specifically those who are "allowlisted" or "whitelisted". This requirement is due to the fact that EUTBL and USTBL are legally registered fund shares.