Spiko Amundi Overnight Swap Fund (EUR)

EURSAFO is a tokenized French fund by Spiko and Amundi that earns a bank rate linked to the euro overnight rate.

EURSAFO is the euro share of the Spiko Amundi Overnight Swap Fund (SAFO), sold by Spiko as "Spiko Euro". It is a sub-fund of SPIKO SICAV, an investment company under French law authorised by the French markets regulator (AMF) as a UCITS fund. Each token is a fund share recorded on a blockchain. Spiko gives the launch date as 3 March 2026, and Amundi and Spiko announced the fund on 19 March 2026.

The fund does not hold government bills. It holds a basket of listed shares and swaps their daily performance with a large bank, at first BNP Paribas. The bank takes any gain or loss on the shares and, whatever the market does, pays the fund €STR plus 0.39% a year, every day. €STR is the euro short-term interest rate set by the European Central Bank. On 27 September 2026 Spiko showed a net yield of 2.21% after a 0.25% annual fee. The yield is added to the share price rather than paid out.

Amundi, Europe's largest asset manager, manages the portfolio under delegation. CACEIS is the depositary and fund administrator, PwC is the auditor, and Spiko is the transfer agent and tokenization platform. Chainlink puts the net asset value on-chain. Shares can be bought and redeemed from 1 euro, with overnight (T+1) liquidity, and only whitelisted wallets can hold or receive them.

On 27 September 2026 about 1.29 billion EURSAFO were outstanding, worth about €1.31 billion, most of them on Stellar and the rest on Arbitrum, Polygon, Ethereum, Base and other networks. The fund is built for corporate and institutional treasuries that want a cash-like token.