Spiko
About
Spiko is a European fintech providing cash management solutions for businesses and individuals, offering daily interest through regulated money market funds and tokenized financial instruments. It enables users to earn risk-free yields on idle cash with daily liquidity, backed by tier-1 banking partners and regulatory oversight.
Where Does Yield Come From?
Spiko offers three ways to earn returns, depending on which product you choose:
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Spiko T-Bills — This product invests directly in short-term government debt (Treasury Bills). The goal is to match the risk-free rate (the baseline return you'd expect from a very safe government-backed investment).
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Spiko Smart Cash — Here, Spiko uses contracts called "total return swaps" with large, top-tier banks such as BNP Paribas. These contracts aim to deliver the risk-free rate plus an extra margin (a spread).
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Spiko Cash & Carry — This product runs a market-neutral strategy in digital assets: it buys the asset now (spot) and simultaneously sells a futures contract for later delivery. The profit comes from the price gap — known as the "futures carry premium" — between the two sides of the trade.
All returns are shown after fees have been taken out. Interest is calculated and paid every single day by the banking partner.
The funds are legally structured as UCITS (a standard European investment fund type) or professional funds. They are also represented on a blockchain (tokenized), which makes ownership transparent and easy to move if needed.
Importantly, client money sits in a bankruptcy-remote structure — meaning if Spiko itself ran into trouble, your funds would not be caught up. They are held separately by CACEIS (part of the Crédit Agricole group), which acts as the depositary bank. This keeps client assets off Spiko's own balance sheet.
Audits
| Audit / Date | Findings | Verdict |
|---|---|---|
Trail of Bits02-10-2023 - 06-10-2023 |
| The audit found only low and informational issues, with half resolved and half accepted as known risks, indicating a relatively secure codebase for the regulated fund share issuance system. |
Nethermind25-10-2024 - 06-11-2024 |
| The review found no critical or high-severity vulnerabilities, with all identified issues addressed, indicating a relatively secure implementation for the centralized fund share management system. |
Pessimistic20-03-2025 - 24-03-2025 |
| The audit found no critical or high-severity vulnerabilities, with the only medium issue fixed before finalization, indicating a relatively secure codebase with accepted low-risk design choices and centralization assumptions appropriate for the regulated RWA issuer context. |
Halborn16-09-2025 - 17-09-2025 |
| Halborn identified one critical vulnerability in the redemption execution logic that could lock funds, plus one low-risk and three informational issues, all of which were resolved by the Spiko team before deployment. The audit demonstrates thorough review and remediation, leaving no unresolved security risks. |
Nethermind22-10-2025 - 03-11-2025 |
| The audit revealed only minor informational findings that were promptly fixed, suggesting the MultiATM contract is well-implemented and secure within the reviewed scope. |
Zenith04-11-2025 - 05-11-2025 |
| The audit identified two low-risk and three informational issues, all acknowledged or resolved by the Spiko team, indicating no critical vulnerabilities remain in the reviewed Minter contract. |
Backers
Spiko raised a $22 million Series A funding round in July 2025. The round was led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Blockwall, and Bpifrance’s Digital Venture Fund. Angel investors included Revolut co-founder Nikolay Storonsky, Kyriba founder Jean-Luc Robert, Bridge co-founder Zach Abrams, Wise CTO Harsh Sinha, Blackstone co-CIO Lionel Assant, and the founding team of Pennylane.
Legal
Legal form
Simplified joint-stock company (SAS)
Registration jurisdiction
France, registered with the Paris Trade and Companies Register (No. 980 659 585)
Status and notes
Licensed as an investment firm by French Prudential Control and Resolution Authority (ACPR) under no. 19183; registered as authorized banking and payment services intermediary (MOBSPL) with ORIAS under number 23008251. Entity name: Spiko Finance SAS.