Spiko

We just crossed €25M in interest accrued by Spiko users. The first €10M took 20 months. The next €10M took 3. Our users are now collectively earning €1M a week, straight into balances they can tap anytime. Money should work 24/7 by default. ⚡

We just merged our Product and Engineering roles into one: the 𝐏𝐫𝐨𝐝𝐮𝐜𝐭 𝐄𝐧𝐠𝐢𝐧𝐞𝐞𝐫. At Spiko, every engineer now owns their features end-to-end, from user research to shipping to checking it's actually used. No handoffs, no separate PM writing the spec. Why: AI is making implementation a commodity. What matters now is product judgment and architecture, and the fastest way to get both is giving one person full ownership. We've organized our stack into 8 scopes (fund ops, payments, compliance, and more), each owned by a senior engineer. Two months in, we've already shipped major features this way, including our €500K instant withdrawal facility and our stablecoin rails. More on this journey soon. First post is live: https://lnkd.in/gPKR-Uav

Today we're launching the 𝐒𝐩𝐢𝐤𝐨 𝐂𝐚𝐬𝐡 𝐚𝐧𝐝 𝐂𝐚𝐫𝐫𝐲 𝐅𝐮𝐧𝐝 (𝐒𝐏𝐊𝐂𝐂), together with Marex. Our first products were money market funds allocating in Treasury bills. In March, we launched 𝐒𝐦𝐚𝐫𝐭 𝐂𝐚𝐬𝐡 (𝐒𝐀𝐅𝐎), built with Amundi, which surpassed $1 billion in assets four months after launch. Together, these two product lines now put more than $2.3 billion in cash to work on behalf of thousands of corporates, non-profits, financial institutions, and individuals. Our goal is to make every relevant source of yield accessible. Cash-and-carry is one of the oldest trades in finance. When a futures contract trades above the underlying asset's spot price, you buy the asset, sell the future, and lock in that spread. Returns come from the spread itself, not from a bet on prices going up or down. When there's no opportunity, in other words when spreads aren't wide enough, you simply stay allocated to Treasury bills until one comes along. The Spiko Cash and Carry Fund packages this trade, long reserved for hedge funds and trading desks. The strategy is written entirely into a rules-based index, administered and calculated by Compass Financial Technologies, an MSCI Inc. company, and delivered by Marex. Published daily. No manager discretion. Key details: • Daily NAV • Daily subscriptions and redemptions in EUR and USD at launch, with EURC and USDC coming soon • Minimum initial subscription: €100,000 (or USD equivalent) More at https://lnkd.in/ga8SabyR

𝐉𝐮𝐥𝐲 𝐢𝐧 𝐧𝐮𝐦𝐛𝐞𝐫𝐬. €1.96B in assets under management, up more than 15% month-over-month. +1,205 new users. €4.3M in interest accrued. Fastest-growing market: Spain 🇪🇸, up 61% in users. We also shipped: • 24/7 instant withdrawals, up to €500K a day • A major yield upgrade on Smart Cash, across all available currencies • EURC and USDC payment rails More to come in August.

A good summer surprise for our users: Smart Cash yields just went up. ☀️ Take time off in August. Your cash won't.

🚀 Cash held in 𝑺𝑨𝑭𝑶 (𝑺𝒎𝒂𝒓𝒕 𝑪𝒂𝒔𝒉) recently surpassed $1.0B. 40% month-over-month growth since launch four months ago, fueled by 7,500+ holders, with the top 20 accounting for just 35% of total AUM. What's driven this, and what's next: 𝐌𝐮𝐥𝐭𝐢𝐩𝐥𝐞 𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐢𝐞𝐬 3 currencies live, each with market-leading yield. More coming, plus seamless in-product currency conversion 👀 𝐏𝐚𝐲𝐦𝐞𝐧𝐭 𝐫𝐚𝐢𝐥𝐬 SEPA, Faster Payments, international wires today. USDC and EURC settlement coming soon. 𝐋𝐢𝐪𝐮𝐢𝐝𝐢𝐭𝐲 24/7 instant withdrawals up to €500K/day. Above that: same-day processing until 3 PM. Smart Cash also serves as collateral on Morpho, unlocking instant 24/7 EURCV borrowing for stablecoin users. 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 Fully auditable, in real time, by anyone: holder count, concentration, flows in and out. 𝐓𝐫𝐚𝐧𝐬𝐟𝐞𝐫𝐚𝐛𝐢𝐥𝐢𝐭𝐲 Shares move 24/7 between any onboarded holders, in any jurisdiction. SEPA only works in one currency, one monetary zone. Smart Cash moves a cash equivalent globally, 24/7, across currencies. 𝐂𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐯𝐢𝐭𝐲 One API, two directions: it connects Smart Cash to accounting and TMS tools (Pennylane live, more coming 👀), and embeds Smart Cash into partner products (Memo Bank and Ramify live, more coming). 👉 Our goal is simple: remove the artificial frontier between 𝒎𝒐𝒏𝒆𝒚 𝒂𝒕 𝒓𝒆𝒔𝒕 and 𝒎𝒐𝒏𝒆𝒚 𝒂𝒕 𝒘𝒐𝒓𝒌. Money should work by default. Proud to be building this product with the Amundi team.

"We already trust Spiko with our EUR cash. But our treasury has FX exposure across four currencies and three subsidiaries, can you help with that too?" We hear a version of this question constantly, and it points to something we've started to notice over the past few months: CFOs and treasurers aren't one audience, they're at least two. Some just want their cash to earn yield with zero extra work: no new process, no additional clicks, one less thing to think about. Others run more complex treasury operations: multiple currencies, FX exposure, hedging, several jurisdictions, cash pooling, different access levels across finance teams. Building one platform that serves both well isn't a sales problem. It's a product problem. That's why we’re thrilled to welcome Prasaad Cojandé to Spiko as Founding Product Manager. Prasaad's mandate has two parts. First, make Spiko completely no-brainer for CFOs with simple needs: the kind of experience where earning yield on idle cash requires no thought at all. Second, progressively build the reference platform for CFOs with complex needs, across multi-currency support, FX, hedging, multi-jurisdiction structures, cash pooling, and multi-user roles. Both matter equally. A platform built only for simple cases loses its best customers as they grow. A platform built only for complexity loses everyone else on day one. More yield. Less hassle. Welcome, Prasaad!

𝒀𝒐𝒖 𝒄𝒂𝒏 𝒏𝒐𝒘 𝒃𝒐𝒓𝒓𝒐𝒘 𝒆𝒖𝒓𝒐𝒔 𝒂𝒈𝒂𝒊𝒏𝒔𝒕 𝒚𝒐𝒖𝒓 𝑺𝑨𝑭𝑶 𝒔𝒉𝒂𝒓𝒆𝒔, 𝒊𝒏𝒔𝒕𝒂𝒏𝒕𝒍𝒚 𝒂𝒏𝒅 𝒂𝒓𝒐𝒖𝒏𝒅 𝒕𝒉𝒆 𝒄𝒍𝒐𝒄𝒌, 𝒘𝒊𝒕𝒉𝒐𝒖𝒕 𝒔𝒆𝒍𝒍𝒊𝒏𝒈 𝒕𝒉𝒆𝒎. Four months after launch, SAFO, our latest treasury product with Amundi, has crossed $1B in assets under management with over 6,500 unique holders. Today, its shares take on a new role: 𝐜𝐨𝐥𝐥𝐚𝐭𝐞𝐫𝐚𝐥. SAFO holders can now pledge their shares to borrow EUR CoinVertible, Societe Generale - FORGE's MiCA-compliant euro stablecoin, instantly and 24/7, drawing on deep, readily available liquidity. The lending/borrowing market runs on Morpho and is operated and funded by Steakhouse Financial. This is Lombard lending, borrowing against high-quality assets instead of selling them, reimagined for Internet-native finance. Until now, it was reserved for large institutions and private banking clients. On open infrastructure, it works for every holder, with no intermediary and no appointment needed. Concretely, what does this make possible? - Access instant liquidity, at significant size, at any time, without being subject to the fund's usual redemption cut-off times. - When borrowing conditions are favorable, borrow money to reinvest in the fund and increase your yield. A key piece of this launch: Chainlink Labs publishes the fund's net asset value onchain. The exact value computed by the fund administrator, CACEIS, is the one used to price collateral. A regulated fund whose value can be read by any application becomes a building block others can build on. 💡 Tokenized funds as collateral. Stablecoins as liquidity. Official NAVs onchain. 24/7. 👉 Full details in our blog post shared in the comments.

𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐚𝐥𝐬 𝐨𝐧 𝐒𝐩𝐢𝐤𝐨 𝐣𝐮𝐬𝐭 𝐠𝐨𝐭 𝐚 𝐦𝐚𝐣𝐨𝐫 𝐮𝐩𝐠𝐫𝐚𝐝𝐞. A year ago, we launched 𝐢𝐧𝐬𝐭𝐚𝐧𝐭 𝐰𝐢𝐭𝐡𝐝𝐫𝐚𝐰𝐚𝐥𝐬 from our money market funds. It's become one of our most-loved features, with nearly €200M withdrawn instantly since then. Today, we're going further: 📈 Cap up from €100K to €500K 🔄 Resets daily, weekends and public holidays included 🏢 Open to all types of legal entities, no restrictions 🙋 Now available to individuals too 🌍 Live in every country where we operate Euros only for now; other currencies are in the works. Your cash should always earn interest and stay available whenever you need it. Today's upgrade makes that promise stronger.

I've joined Spiko as Head of Financial Instruments. Spiko is building what I believe treasury management should look like: fully regulated funds, accessible from the first euro/dollar/pound (you name it), with the operational simplicity of modern fintech and the settlement rails of tomorrow. In just two years Spiko already changed the game for short-term cash: the team has crossed $2bn in assets under management and become the largest tokenized money market fund platform globally by number of users and daily activity. Yet trillions of corporate and household cash still sit idle. The longer-term cash market, money companies won't touch for a year or more, remains largely unserved. Giving every company access to instruments still too often reserved for the largest institutions is the challenge that brought me here. I'll be focused on designing and launching a new generation of treasury products: from overnight to multi-year, from the most conservative profiles to those ready to take measured risk, smarter ways to put cash to work at every step. More to announce very soon 🚀 Grateful to Paul-Adrien and Antoine for bringing me on board. If you're rethinking how your company manages its cash or interested in building with us, please reach out! Paul-Adrien Antoine Xenia Paul-Armand Victor Prasaad Victor Nicolas Pierre Alexis Achille Nicolas Imrane Carolina Nicolas Pierre Katia Matteo Agnès Alexandre Antoine Gaston