Amundi and Spiko Finance Launch First UCITS Fund on Solana

Amundi and Spiko Bring Tokenized UCITS to the Blockchain

@Amundi_ENG, Europe's largest asset manager, and tokenized fund platform @Spiko_finance have jointly launched the Spiko Amundi Overnight Swap Fund (SAFO), a regulated UCITS product designed for institutional and corporate treasury management. SAFO is a tokenized UCITS fund designed for corporate treasury and collateral management.

Amundi is Europe's largest asset manager with €2.4 trillion in assets under management. SAFO is regulated by the French Financial Markets Authority (AMF), issued and operated on the Spiko infrastructure. It uses fully collateralized total return swaps with Tier 1 banking counterparties, starting with BNP Paribas, to deliver stable yields above risk-free benchmarks with overnight liquidity.

The product is available in four currencies at launch, with subscriptions starting from just 1 EUR, USD, GBP, or CHF. It offers real-time transparency on the shareholder register, 24/7 transferability, flexible custody options, and programmatic access via API or smart contracts.

Blockchain Infrastructure and Market Context

Note: While the original announcement references a Solana deployment, multiple independent sources confirm that SAFO's shareholder register is hosted on Ethereum and Stellar, with Chainlink providing on-chain NAV oracle infrastructure. Amundi and Spiko have indicated plans to expand to additional networks based on investor demand.

Amundi serves as delegated investment manager, while CACEIS acts as depositary bank and fund administrator. Spiko handles transfer agency, tokenization infrastructure, and brokerage for the fund shares.

A tokenized fund that is also UCITS-compliant can be distributed across the EU without additional regulatory approval in each member state. That passporting advantage means SAFO's potential distribution footprint is not limited to a single market.

In February, Spiko said it had surpassed $1.03 billion in assets under management across its products, with more than 3,300 active clients and over 92% of assets coming from business users. The launch also marks a wider shift in institutional finance: distributed tokenized asset value stood at $27.3 billion as of March 19, up 9% over the prior 30 days, according to RWAxyz.

The launch adds another tokenization step for Amundi, which in December 2025 introduced its first tokenized share class for its Amundi Funds Cash EUR money market fund on Ethereum in partnership with CACEIS.

Sources:
Spiko: SAFO Launch Announcement
Ledger Insights: Amundi and Spiko Launch Tokenized Overnight Swap Fund
The Defiant: Amundi Launches Tokenized Swap Fund on Ethereum and Stellar