Spiko Amundi Overnight Swap Fund (EUR)

Spiko Amundi Overnight Swap Fund (EUR), trading as EURSAFO, is a tokenized regulated fund rather than a conventional cryptocurrency. It is a UCITS fund launched jointly by Spiko and Amundi, Europe's largest asset manager, whose shares are represented on-chain. The EUR share class lets investors subscribe from as little as one euro, bringing an institutional money-market product into a blockchain wrapper.

What is Spiko Amundi Overnight Swap Fund (EUR)?

EURSAFO is the on-chain representation of shares in a euro-denominated overnight fund designed to generate stable yields above the €STR benchmark. It belongs to the Real World Assets category, meaning the token is a claim on a real, regulated financial instrument rather than a speculative crypto asset. The goal is to combine the accessibility and liquidity of tokenization with the oversight and structure of traditional asset management.

How does Spiko SAFO work?

The fund produces returns through fully collateralized total return swaps with top-tier banks, starting with BNP Paribas, while maintaining overnight liquidity so investors can enter and exit daily. There is no blockchain consensus of its own: the shareholder register is hosted across multiple networks including Ethereum, Polygon PoS, Arbitrum One, Starknet, Base, Etherlink and Stellar. Chainlink oracles supply on-chain net-asset-value feeds, CACEIS acts as depositary, PwC as auditor, and the French AMF supervises the fund.

Spiko SAFO tokenomics and supply

EURSAFO has no fixed maximum supply because tokens correspond to fund shares that are created and redeemed as investors subscribe or withdraw. The circulating amount currently sits near 596 million units. Key points:

• Circulating units: roughly 596 million EURSAFO, tied to fund shares
• No fixed cap; units are minted and redeemed with subscriptions
• Yield target: stable returns above the €STR benchmark
• Regulated UCITS fund supervised by the French AMF, audited by PwC

Because each unit tracks the fund's net asset value, its price stays close to a stable reference rather than swinging like a typical token; its all-time high and low sit near the same level.

What is Spiko SAFO used for?

EURSAFO is used as an on-chain, yield-bearing cash-management instrument. Investors and institutions can hold it to earn euro money-market yield with daily liquidity, use it as tokenized collateral, or integrate it into DeFi and treasury workflows across the many chains where its register is hosted. It bridges traditional short-term fixed income with blockchain settlement.

Where to access Spiko SAFO

As a regulated fund token, EURSAFO is accessed primarily through Spiko's own platform, subject to eligibility and onboarding, rather than being freely traded like ordinary crypto. For general guidance on custody of tokenized assets, our best crypto wallets guide covers compatible options, and our best crypto exchanges ranking can help you understand the broader venues where such assets may appear.

Is Spiko SAFO a good investment?

EURSAFO is built for stability and modest yield rather than capital appreciation, so it behaves more like a cash-management tool than a growth asset. Its main risks are those of any money-market product, including swap counterparty exposure and rate movements, plus smart-contract and regulatory considerations of tokenization. This is not financial advice; assess EURSAFO as a regulated yield instrument, reviewing the fund's documentation and your own eligibility.