Spiko 

What is Spiko?

Spiko is a Paris- and London-based fintech that issues tokenized UCITS money-market funds invested in short-term US and EU Treasury bills. Fund shares exist as blockchain tokens held in self-custody, giving individuals, companies and crypto firms on-chain exposure to central-bank-rate yield - tokenized cash is Spiko's core real-world-asset product. Spiko Finance is licensed as an investment firm by the French Prudential Control and Resolution Authority (ACPR) under number 19183.

Is Spiko regulated by the ACPR?

Yes. Spiko Finance holds an investment-firm license from the French ACPR under number 19183. The flagship UCITS funds are approved by French regulatory authorities and operate under AMF supervision. ORIAS intermediary registration carries number 23008251. Client cash sits at CACEIS Bank, and Spiko states it holds no client funds. Smart Cash products carry S&P's highest money-market-fund rating, AAA.

How does Spiko's yield work?

Spiko's funds invest in short-term US and EU Treasury bills. Fund shares price at net asset value and appreciate gradually as interest accrues, with daily interest distribution and withdrawals at any time. Smart Cash products - Spiko Euro, Dollar, Pound and Swiss Franc - target returns close to central-bank rates. Yield comes from government debt, not from crypto staking or token emissions.

Which blockchains are Spiko funds on?

Spiko funds deploy on Ethereum, Base and Solana. The Solana expansion was announced in July 2026, following earlier Ethereum and Base deployments. In September 2025, a Morpho integration and an SG-Forge partnership enabled borrowing of EURCV and USDCV stablecoins against USTBL and EUTBL fund shares used as on-chain collateral.

Who are Spiko's investors?

Per DropsTab fundraising data, Spiko raised $112 million across two rounds. Series B brought $90 million, announced October 6, 2026, led by New Enterprise Associates (NEA) with Wintermute, Index Ventures, White Star Capital, Speedinvest, Bpifrance, Flourish Ventures and others participating. Series A brought $22 million, announced July 17, 2025, led by Index Ventures.

What does Spiko's investor list signal about the company's maturity?

The backer list spans both traditional and crypto-native finance. Index Ventures led the Series A and returned for the Series B; NEA led the Series B. Angel investors include Revolut co-founder Nikolay Storonsky, Bridge co-founder Zach Abrams, Wise CTO Harsh Sinha and Blackstone co-CIO Lionel Assant. Bpifrance, the French state investment bank, participated in both rounds. Repeat participation by tier-1 funds signals sustained institutional conviction alongside a regulated product.

Does Spiko have a token or a vesting schedule?

No. Spiko has no native coin, no token generation event and no vesting schedule - token-unlock inflation risk does not apply to this asset. The investable on-chain assets are fund shares: Spiko EU T-Bills Money Market Fund (EUTBL) and Spiko US T-Bills Money Market Fund (USTBL), issued via the Spiko SICAV managed with Twenty First Capital. Supply is not fixed. Tokens are minted only against Treasury-bill-backed subscriptions, so supply expands only as real investor money enters.

Can you trade Spiko USTBL and EUTBL tokens?

No. USTBL and EUTBL are transfer-restricted UCITS fund shares - the shares price at net asset value and do not trade freely on exchanges. User liquidity comes through fund subscription and redemption via Spiko, not through market depth. Neither fund has tracked spot, derivative or DEX markets; aggregators report zero trading volume for both, which reflects the product structure rather than a listing gap.

Is the SPIKO token on Base connected to Spiko?

No. An unofficial micro-cap "Spiko Finance (SPIKO)" token trades on Base and has no connection to the regulated issuer. The Base token confers no exposure to Spiko's funds, licenses or assets under management, and associating the two risks confusing a regulated product with an unrelated speculative token.