Amundi, Europe’s largest asset manager, has announced the launch of a new tokenized fund on the Ethereum and Stellar networks, accelerating its move in the field of blockchain-based financial products.
The firm, which manages about $2.3 trillion in assets, received an initial commitment of $100 million for the fund.
The product, called the Spico Amundi Overnight Swap Fund (SAFO), is the Paris-based company’s second blockchain-based fund launch in the past five months. Amundi previously worked with CACEIS to launch a tokenized share class of money market funds on Ethereum in November.
The new fund will be structured as a tokenized sub-fund under SPIKO SICAV, an investment structure subject to French law. SAFO specifically aims to provide solutions for the cash management and collateral needs of businesses and financial institutions.
The fund aims to maintain overnight liquidity by offering fully collateralized total yield swap transactions with leading banks. Investors can also trade in four different currencies: EUR, USD, GBP, and CHF.
Amundi said SAFO offers benefits such as near-instant reconciliation, flexible custody options, real-time transparency of investor records, and 24/7 cross-border remittance capabilities.
Under the Fund’s management 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 intermediary. The Chainlink infrastructure allows the net asset value (NAV) of a fund to be recorded on-chain on the Ethereum and Stellar networks.
*This is not investment advice.
