- The Spiko U.S. and E.U. T-Bills Money Market Funds are two UCITS-compliant investment vehicles with tokenized shares.
- Users of Etherlink will have the opportunity to purchase shares of the Spiko money market funds after the deployment.
Spiko, a Paris-based investment technology company that specializes in tokenized money market funds, has announced that it would deploy its successful T-Bills Money Market Funds in the US and the EU on Etherlink, a Layer 2 blockchain that is compatible with EVMs and driven by Tezos technology. The announcement is the most recent development in Etherlink’s quickly expanding DeFi ecosystem and comes after recent integrations with other top blockchain networks, such as Arbitrum One, Starknet, and Polygon PoS.
Etherlink, which is renowned for its very cheap transaction costs, resilience to censorship, and sub-second block times, inherits the strong security and decentralized administration of the Tezos blockchain. Users of Etherlink will have the opportunity to purchase shares of the Spiko money market funds after the deployment, giving them access to liquid, yield-bearing savings alternatives in both USD and EUR currencies for the first time.
The Spiko U.S. and E.U. T-Bills Money Market Funds, two UCITS-compliant investment vehicles with tokenized shares (USTBL and EUTBL), are among the most successful real-world-asset (RWA) products to come out in recent years, with assets under management of up to $165M. Tokenized portions of the assets are stored in self-custodial wallets by Etherlink users who buy T-Bills, highlighting the offering’s accessibility and security.
Commenting, Spiko co-founder & CEO Paul-Adrien Hyppolite said:
“At Spiko, we believe financial services infrastructure should be digital, open and composable. We’re dedicated to bridging the gap between traditional financial systems and digital assets. Launching on Etherlink is a natural next step towards fulfilling our aim of bringing these products to more people around the world and of welcoming people into the global digital economy. As Etherlink is known for its ultra-low transaction costs it seemed like a natural fit for us, considering our longstanding commitment to financial inclusivity.”
The European Commission’s Undertakings for Collective Investment in Transferable Securities (UCITS) oversees the regulation of Spiko’s tokenized US and EU T-Bill Money Market Funds. The funds stand apart from other comparable financial products in the market thanks to this degree of regulatory transparency.
Anthony Hayot, Head of DeFi at Nomadic Labs, a Tezos R&D Hub in Paris, said:
“We are thrilled that Spiko has chosen to deploy these highly sought-after funds on Etherlink. We view this partnership as a key cornerstone for the emerging RWA ecosystem on Etherlink, with even more investment opportunities and composability on the horizon.”
The ecosystem of Etherlink is expanding quickly. The world’s first and only online marketplace for trading real uranium, uranium.io, was opened in December. In January, the “.etherlink” domain was introduced, which was a significant step in allowing users to build Web3 identities and handle digital assets with ease. Another significant milestone for the quickly growing network is the impending launch of Spiko’s tokenized money market funds on Etherlink, which is planned to be live by the end of February.
UCITS-compliant money market funds with tokenized shares on public blockchain networks were first introduced by Spiko, a company founded in 2023. The fintech, which specializes in tokenization and on-chain registry management, also runs a subsidiary registered in France that offers fund share brokerage and investment advisory services.
