Amundi lanserer tokenisert SAFO-fond verdt 100 millioner dollar på Ethereum og Stellar

Europe’s largest asset manager Amundi, with over €2.3 trillion in assets under management, has officially launched the Spiko Amundi Overnight Swap Fund (SAFO), a tokenized fund with $100 million in committed AUM.

The fund operates natively on two blockchains - Ethereum and Stellar, marking Amundi’s second tokenized product in just five months.

Structured as a sub-fund of the French-regulated SICAV SPIKO, SAFO is designed for corporate treasury and collateral management. It offers fully collateralized total return swaps with leading banks, providing stable yields above risk-free rates while preserving overnight liquidity. Subscriptions and redemptions are available in four currencies (EUR, USD, GBP, CHF) from as little as 1 unit.

Key benefits of tokenization:

• 24/7 transferability and near-instant settlement
• Real-time transparency of the shareholder register
• Flexible custody and programmatic access via API or smart contracts

The shareholder register lives on Ethereum and Stellar, with Net Asset Value (NAV) recorded on-chain via Chainlink infrastructure. This setup enables seamless cross-chain functionality and easy expansion to additional networks.

Project partners:

1. Spiko - transfer agent, tokenization platform, and broker
2. CACEIS - depositary and fund administrator
3. Chainlink - on-chain NAV and cross-chain infrastructure
4. Amundi - delegated investment manager

“SAFO gives professional investors fast and transparent access to cash management solutions. This launch is part of our ambition to drive the development of tokenized offerings,” said Jean-Jacques Barbéris, Head of Institutional and Corporate Business & ESG at Amundi.

This follows Amundi’s first tokenized fund launched in November 2025, a tokenized share of the AMUNDI FUNDS CASH EUR money market fund on Ethereum in partnership with CACEIS.

The SAFO rollout occurs against the backdrop of explosive growth in the tokenized Real World Assets (RWA) sector. According to The Block, the market has expanded from $15.2 billion at the start of 2025 to nearly $52 billion today, with Ethereum leading at $17.85 billion in tokenized assets.

The fund is currently available exclusively to accredited professional investors through the Spiko platform, with plans to broaden distribution via Spiko’s API network.

Institutional demand for tokenized cash equivalents is accelerating. The combination of instant settlement, full transparency, and 24/7 availability makes these products particularly attractive for corporate treasury desks and DeFi collateral use cases. Amundi’s move proves that even the biggest traditional asset managers are ready to scale tokenization within a fully regulated European environment.