Amundi and Spiko, a European fund tokenisation platform, have introduced the Spiko Amundi Overnight Swap Fund (SAFO).
SAFO is a tokenised sub-fund of SPIKO SICAV, a SICAV regulated under French law, designed to meet the treasury and collateral needs of corporates and financial institutions of all sizes, offering a cash-equivalent instrument with 24/7 transferability.
The fund uses fully collateralised total return swaps with top-tier banks to deliver stable yields above risk-free benchmarks, while maintaining overnight liquidity.
It is available in four currencies, allowing investors to subscribe and redeem from 1 EUR, USD, GBP or CHF.
The fund offers blockchain‑enabled efficiency, providing near‑instant settlement, flexible custody options, real-time transparency of the shareholder register and 24/7 borderless transferability of fund shares.
It also provides investors with programmatic access via API or smart contracts.
Amundi will act as SAFO’s delegated investment manager, with CACEIS serving as depositary bank and fund administrator. Spiko acts as transfer agent, tokenisation platform and broker for the fund shares.
The shareholder register will be hosted on Ethereum and Stellar, and it has the ability to expand to additional networks in response to investor demand. Chainlink will provide the infrastructure to record SAFO’s NAV on-chain.
SAFO is currently available to eligible investors through Spiko, with plans to broaden access via Spiko’s API-enabled distribution network.
Jean-Jacques Barbéris, head of institutional and corporate clients, and ESG at Amundi said: “SAFO provides professional investors with a fast and transparent access to cash management solutions. This initiative is part of our ambition to contribute to the rise of tokenized solutions.”
Paul‑Adrien Hyppolite, co-founder and CEO of Spiko, added: “Clients will benefit from the reliability of Spiko’s fund issuance and distribution infrastructure.”
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