TheBlock
Tokenized cash fund issuer Spiko raised $90 million in a Series B led by New Enterprise Associates, bringing its total funding to $120 million. Index Ventures, Bpifrance, Speedinvest and Wintermute Ventures also joined, alongside angel investors including former Bundesbank president Axel Weber. Spiko plans to use the capital to launch funds, enter more markets and expand local operations across Germany, Italy, Spain, the Netherlands and the Nordics.
Why it matters
Spiko designs and distributes regulated cash funds through its web and mobile apps, and offers financial companies an API to embed them in their products. The funds are tokenized and issued on multiple public blockchains, putting cash products on infrastructure also used by stablecoins and smart contracts. Spiko says this makes cash programmable: businesses can set rules to move excess operating cash into funds while keeping money available for payroll and other payments.
The model brings traditional cash management into blockchain-based financial infrastructure. Rather than treating tokenization as a new label for an existing fund, Spiko is pitching it as a way to make cash holdings interact with software and payment workflows.
Market impact
Spiko reports $2.7 billion in assets under management across funds denominated in euros, dollars, sterling and Swiss francs. More than 10,000 businesses and individuals across over 25 jurisdictions use its funds, according to the company.
Spiko also says its tokenized cash-fund range is larger than those of BlackRock and Franklin Templeton, citing RWA.xyz data. That comparison concerns issuers of tokenized cash funds, not the firms’ overall assets under management. The new funding is intended to broaden Spiko’s products and geographic reach, adding another institutional-backed expansion to the tokenized real-world-asset market.
Frequently asked questions
-
How much did Spiko raise, and who led the round?
Spiko raised $90 million in a Series B led by New Enterprise Associates. The round brings its total funding to $120 million.
-
How does Spiko let businesses use tokenized cash funds?
Businesses can access Spiko’s funds through its apps or through financial products that embed them using Spiko’s API. The company says rules can direct excess operating cash into funds while keeping money available for payments.
-
Which markets does Spiko plan to expand into?
Spiko plans to expand local operations across Germany, Italy, Spain, the Netherlands and the Nordics, as well as enter additional markets.
-
What scale has Spiko reported for its cash funds?
Spiko reports $2.7 billion in assets under management across euro, dollar, sterling and Swiss franc funds. It says more than 10,000 businesses and individuals in over 25 jurisdictions use them.
-
What does Spiko’s comparison with BlackRock and Franklin Templeton cover?
Spiko says its tokenized cash-fund range is larger than theirs, citing RWA.xyz data. The comparison concerns tokenized cash funds, not the firms’ overall assets under management.
Altcoin Daily
CryptoSlate
CoinDesk
Crypto News
WuBlockchain
CoinTelegraph
WatcherGuru