TLDR:
- Amundi, managing €2.3 trillion AUM, partners with Spiko to launch SAFO with $100M in committed assets.
- SAFO runs on Ethereum and Stellar, offering 24/7 transferability and near-instant settlement to investors.
- Chainlink powers automated NAV reporting and secure cross-chain interoperability for the SAFO fund.
- SAFO supports four currencies with a minimum subscription of one unit, broadening institutional fund access.
SAFO, the Spiko Amundi Overnight Swap Fund, has officially launched as a new European tokenized mutual fund. Amundi, the continent’s largest asset manager managing €2.3 trillion in assets, partnered with Spiko for this initiative.
The fund integrates Chainlink for automated NAV reporting and secure cross-chain interoperability. It enters the market with $100 million in committed AUM, targeting corporate and institutional treasury needs.
SAFO Offers 24/7 Transferability With Regulated Fund Structure
The fund operates as a sub-fund of SPIKO SICAV, a SICAV regulated under French law. It carries a UCITS-compliant structure, meeting established European regulatory requirements.
SAFO uses fully collateralized total return swaps with top-tier banks to generate returns. This structure delivers stable yields above risk-free benchmarks while preserving overnight liquidity.
Investors can subscribe and redeem shares in four currencies: EUR, USD, GBP, and CHF. The minimum subscription starts from as little as one unit in any supported currency.
This makes the fund accessible to institutions and corporates of varying sizes. Settlement is near-instant, and the fund offers flexible custody arrangements.
The shareholder register runs on both Ethereum and Stellar blockchains. Amundi and Spiko have indicated plans to expand to additional networks based on investor demand.
Programmatic access to the fund is available through APIs and smart contracts. Real-time transparency of the shareholder register remains a core operational feature.
Chainlink provides the infrastructure to record SAFO’s net asset value on-chain reliably. This automates the NAV reporting process for all fund participants.
Chainlink also supports secure cross-chain interoperability across the fund’s network. Together, these features place SAFO among a growing class of institutional-grade tokenized products.
Fund Roles, Executive Commentary, and Distribution Plans
Amundi serves as SAFO’s delegated investment manager for portfolio oversight. CACEIS acts as the depositary bank and fund administrator for operational processes.
Spiko takes on roles as transfer agent, tokenization platform, and fund broker. Each party holds a clearly defined operational position within the fund’s structure.
Chainlink noted the development publicly, stating that Amundi and Spiko had launched the new tokenized mutual fund powered by Chainlink infrastructure for NAV reporting and cross-chain interoperability.
Jean-Jacques Barbéris, Head of Institutional and Corporate Clients at Amundi, addressed the fund’s purpose directly. “SAFO provides professional investors with a fast and transparent access to cash management solutions,” he said.
He further noted that the initiative reflects Amundi’s broader ambition to “contribute to the rise of tokenized solutions.” His statement confirmed the firm’s strategic direction toward blockchain-based financial products.
Paul-Adrien Hyppolite, co-founder and CEO of Spiko, also spoke on the launch. “Clients will benefit from the reliability of Spiko’s fund issuance and distribution infrastructure,” he stated.
SAFO is currently available to eligible investors through the Spiko platform. The company plans to expand access further through its API-enabled distribution network going forward.
