Spiko links UCITS T‑bill funds to Coinbase stablecoin rails

Investment manager Spiko has added Coinbase’s stablecoin payment infrastructure to two regulated UCITS Treasury‑bill money market funds, enabling eligible investors to fund subscriptions and receive redemption proceeds in USDC and EURC. Coinbase announced the integration covers the EU T‑Bills Money Market Fund and the US T‑Bills Money Market Fund. Coinbase Payments will provide wallet, payment and API services. Transactions will settle on Base, Coinbase’s layer‑2 network. Eligible investors can submit subscription requests at any time, including weekends and public holidays, and redemption proceeds can be delivered to a stablecoin wallet within minutes after a position is liquidated, the companies say. Spiko confirmed the integration provides an additional payment option and does not alter the funds’ operating structures, primary processing of subscriptions and redemptions, or custody arrangements. Traditional fund rules and settlement cycles remain in place even though the payment rails operate continuously. The change comes as UCITS net sales rebounded in April. Data from industry group EFAMA showed net inflows of €104 billion in April after net outflows of €41 billion in March, and net sales for 2025 reached €828 billion, exceeding the previous 2021 high of €813 billion. Other asset managers have tested tokenized and stablecoin‑settled funds for faster settlement and extended access. Regulators have approved round‑the‑clock secondary trading and instant USDC settlement for a tokenized Treasury fund, and separate programs have allowed institutions to use tokenized money market fund shares as off‑exchange trading collateral while underlying assets remain in regulated custody. The Spiko–Coinbase integration links on‑chain payment rails to regulated UCITS funds and introduces stablecoins as an alternative settlement method for eligible investors, while maintaining existing governance and custody arrangements.