Amundi, Europe’s largest asset manager with €2.3 trillion in assets under management, has launched the Spiko Amundi Overnight Swap Fund-SAFO.
SAFO is a tokenized sub-fund of SPIKO SICAV under French law, designed as a cash-equivalent instrument with 24/7 transferability and $100 million in initial AUM.
The fund delivers yield above risk-free rates via fully collateralized total return swaps with top-tier banks, while preserving overnight liquidity. It operates in euro, US dollar, pound sterling, and Swiss franc-with subscriptions and redemptions starting at one unit per currency.
Shares are recorded on Ethereum and Stellar. Chainlink publishes the fund’s NAV onchain.
Amundi serves as delegated investment manager. CACEIS is depositary and fund administrator. Spiko provides transfer agency, tokenization infrastructure, and brokerage.
SAFO marks Amundi’s second tokenized offering-following its December 2025 launch of a tokenized share class for its Amundi Funds Cash EUR money market fund.
The fund targets real institutional use: treasury operations, collateral mobility, and programmable finance-not passive investment.