Europe’s largest asset manager, Amundi, has launched a $100 million tokenized fund on blockchain networks Ethereum and Stellar, marking a major step in bringing traditional finance on-chain. The product, called the Spiko Amundi Overnight Swap Fund (SAFO), is designed for institutional treasury and collateral management.
The fund debuts with $100 million in committed assets, signaling that tokenization is moving beyond experimentation into real institutional deployment.
A Hybrid Traditional Finance + Blockchain Product
SAFO is structured as a tokenized version of a traditional regulated fund, operating under French law as part of a SICAV framework.
It uses fully collateralized total return swaps with major banks to deliver stable, low-risk yields while maintaining overnight liquidity, making it suitable for corporate cash management.
Key features include:
24/7 transferability of fund shares on blockchain
Near-instant settlement compared to traditional T+1 systems
Multi-currency access (EUR, USD, GBP, CHF)
Low minimum entry (as little as 1 unit of currency)
This structure blends the stability of traditional finance with the efficiency of blockchain rails.
Built on Ethereum, Stellar, and Chainlink
The fund operates on a dual-chain architecture, leveraging:
Ethereum for smart contracts and DeFi compatibility
Stellar for faster, low-cost transfers
Chainlink to publish real-time NAV (net asset value) data on-chain
This setup allows for real-time transparency, programmable access, and cross-border functionality, solving key inefficiencies in traditional fund infrastructure.
Institutional-Grade Tokenization Goes Live
Unlike earlier blockchain experiments, SAFO is not a pilot—it’s a fully operational financial product designed for real capital flows.
Amundi, which manages over €2.3 trillion in assets, is positioning tokenization as a core part of its long-term strategy.
The fund is aimed primarily at:
Corporations managing treasury reserves
Financial institutions handling collateral
Institutional investors seeking low-risk yield products
Why This Matters
Amundi’s launch represents one of the clearest signs yet that traditional finance is moving on-chain at scale.
By combining regulated fund structures with blockchain infrastructure, this product demonstrates how tokenization can:
Enable 24/7 financial markets
Improve transparency and settlement speed
Expand access to institutional-grade products
Integrate with programmable finance systems
More importantly, it signals that tokenization is evolving from a niche concept into core financial infrastructure for global capital markets.
