Amundi, Europe’s largest asset manager, has accelerated its moves in the field of blockchain-based financial products by announcing the launch of a new tokenized fund on the Ethereum and Stellar networks.
The company, which manages approximately $2.3 trillion in assets, received an initial commitment of $100 million for the fund.
The product, called “Spiko Amundi Overnight Swap Fund (SAFO)”, is the Paris-based company’s second blockchain-based fund issuance in the last five months. Amundi previously launched a tokenized share class of a money market fund on Ethereum in November, in collaboration with CACEIS.
The new fund is structured as a tokenized sub-fund under SPIKO SICAV, an investment structure subject to French law. SAFO aims to provide solutions, particularly for the cash management and collateral needs of companies and financial institutions.
The fund aims to maintain overnight liquidity by offering fully collateralized total yield swap transactions with top-tier banks. Investors can also trade in four different currencies: EUR, USD, GBP, and CHF.
According to Amundi, SAFO offers advantages such as near-instant reconciliation, flexible custody options, real-time transparency of investor records, and 24/7 cross-border transfer capabilities.
In the fund’s operational structure, Amundi acts as the authorized portfolio manager, while CACEIS assumes the role of custodian bank and fund manager. Spiko is positioned as a transfer agent, tokenization platform, and brokerage. The Chainlink infrastructure enables the fund’s net asset value (NAV) to be recorded on-chain on the Ethereum and Stellar networks.
*This is not investment advice.
