Image credit: Unsplash
Spiko has integrated Coinbase Payments into two European-regulated Treasury bill funds, allowing eligible investors to subscribe and redeem using USDC and EURC.
The launch connects stablecoin payment rails to Spiko’s UCITS money market funds, giving institutional clients a stablecoin-based route between tokenized cash and short-term government debt.
USDC and EURC Fund Two Spiko Products
The integration covers Spiko’s EU T-Bills Money Market Fund and Spiko’s US T-Bills Money Market Fund. The EU fund can accept EURC payments, while the U.S. Treasury bill fund can accept USDC.
Investors can use stablecoins to enter the funds and receive redemption proceeds through the same payment route. Coinbase Payments provides the wallet, payment and API infrastructure behind the flow. Transactions settle through Base, Coinbase’s Ethereum layer-2 network.
UCITS Structure Stays Unchanged
The integration gives Spiko a crypto-native payment layer without changing the fund structure. The products remain regulated UCITS money market funds, not stablecoins or exchange-traded crypto products.
That distinction matters because investors are still buying fund shares backed by short-term government debt. The stablecoin rail changes how money moves into and out of the funds, not what the funds hold.
Funds Hold Eurozone and US T-Bills
Spiko’s funds give investors exposure to Treasury bills through regulated fund shares. The EU fund invests in short-term Treasury bills issued by eurozone member states. The U.S. fund invests in short-term U.S. Treasury bills under the same European fund framework.
Both products are structured around short maturities and daily liquidity. Spiko’s materials say the funds target bills with less than six months to maturity and keep average portfolio maturity below two months.
Stablecoin Rails Reduce Bank Cutoffs
The setup is aimed at investors that already hold stablecoins and want to move idle balances into regulated yield products without relying only on bank transfer windows. Traditional fund subscriptions and redemptions can take days when they depend on banking hours, settlement cutoffs and fiat payment rails.
Coinbase says the Spiko setup allows investors to move between stablecoins and T-bill fund exposure around the clock. That could matter for crypto firms, market makers and treasury teams that manage liquidity outside normal banking hours.
Base Gains Institutional Payment Use Case
The launch gives Spiko a regulated fund wrapper linked to stablecoin payments. It also gives Coinbase another use case for USDC, EURC and Base inside institutional market infrastructure.
The next question is whether crypto treasury desks and market makers use the rail at scale.
