- Spiko, a French tokenized money market fund startup, secured $22 million in a funding round led by Index Ventures.
- The startup reached almost $400 million in assets under management within its first year.
- Spiko targets businesses with idle cash, aiming to grow assets to $1 billion by the end of the year.
- The company manages euro and U.S. dollar funds on five public blockchains, with euro-denominated assets more than double those in dollars.
- Funds are held by institutional custodians and regulated by French authorities, offering higher trust and security to clients.
Spiko, a French startup specializing in tokenized money market funds, announced a $22 million funding round. Index Ventures led the investment, with participation from angel backers, including Revolut co-founder Nikolay Storonsky, Kyriba founder Jean-Luc Robert, and Wise CTO Harsh Sinha. The company has built assets under management of nearly $400 million in under one year.
The new capital comes as Spiko approaches the top five ranks for tokenized money market funds by assets, according to industry data. Fourth-ranked WisdomTree currently manages $489 million. Spiko’s stated goal is to reach $1 billion in assets under management by the end of the year.
Spiko focuses on helping businesses, both in the cryptocurrency industry and traditional sectors, earn returns on idle cash. While U.S. firms frequently use money market funds, the practice is less common in Europe. According to Index Ventures, European businesses hold about $27 trillion in unused cash deposits.
Co-founder Paul-Adrien Hyppolite said, “In Europe, there’s a mistaken belief that your money won’t earn interest unless you lock it away or take on risk. But as long as central bank rates are above zero, sitting on idle cash means European businesses are missing out on returns that US competitors routinely receive. With Spiko, we’re changing the game by making it easy for anyone to put their cash to work.”
Spiko operates both euro- and U.S. dollar-denominated funds, available on five public blockchains. The euro fund holds about $277 million, while the dollar fund manages $120 million, according to CoinGecko. The company selects established partners, with custody provided by CACEIS (a joint venture between Crédit Agricole and Santander) and Twenty First Capital as fund manager.
These funds are regulated as onshore products by France’s financial authority, the Autorité des Marchés Financiers (AMF), and audited by PwC. The association with blue-chip custodians allows CACEIS to expand fund access to its clients.
The combination of regulation, top-tier partners, and conservative fund management builds trust for both cryptocurrency and mainstream business clients seeking digital cash solutions. For more information, visit Spiko.
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