Fipto, the stablecoin-powered B2B payments and treasury platform, has partnered with Spiko Finance SAS to give corporate clients a route from idle stablecoin balances into regulated UCITS money market funds. The arrangement, announced on 5 October 2026, is designed to close the gap between round-the-clock stablecoin settlement and the weekday-only availability of traditional cash management products.
The deal
Three Spiko funds are available to Fipto clients. The Spiko EU T-Bills Money Market Fund (EUTBL) accepts subscriptions in euros and EURC, with a net annualised yield of 2.09% against the €STR benchmark as at the announcement date. The Spiko US T-Bills Money Market Fund (USTBL) accepts USDC balances and carries a net annualised yield of 3.37% in US dollars, benchmarked to the Federal Funds Rate. The Spiko Amundi Overnight Swap Fund, in its EUR class, is available from euro balances and yielded 2.84% net annualised on the same date, with asset management delegated to Amundi. All three funds accrue daily, including at weekends, meaning balances placed before the Friday cut-off continue earning across Saturday and Sunday.
The structural mechanics matter as much as the yield figures. Each Fipto client is onboarded directly as a Spiko investor and holds fund shares in its own name rather than through a pooled account. Fipto acts as introducer and provides the interface; Spiko Finance SAS provides the investment service. Fund assets are held in custody with CACEIS Bank. These are not bank deposits and carry no deposit guarantee protection, a point the firms disclose explicitly.
The regulatory stack is fully licensed on both sides. Fipto holds a Payment Institution licence from the ACPR and MiCA CASP authorisation from the AMF. Spiko Finance SAS is an investment firm authorised by the ACPR, and the funds are UCITS approved by the AMF.
Patrick Mollard, co-founder and chief executive of Fipto, said the combination of fast settlement and in-platform yield allocation represents where corporate finance is headed. “Money moves the moment the business needs it, and does not sit still the rest of the time. And because the rails and the allocation run through the same API, the same flow works whether a treasurer triggers it, a rule triggers it, or in time an AI agent does.”
Market context
The partnership sits at the intersection of two trends that have been reshaping institutional cash management in Europe. First, the growth of stablecoin-denominated treasury operations among mid-sized and large corporates, accelerated by MiCA’s entry into force and the clarity it provides for euro-denominated stablecoins. Second, the push by regulated asset managers and fund distributors to reach crypto-native corporates who hold meaningful working capital in stablecoins but have had no friction-free path to yield.
Several competitors are circling the same opportunity. Banking-as-a-service providers and crypto-focused neobanks have launched yield products backed by money market funds or T-bills, typically for retail or semi-institutional clients. What Fipto and Spiko are targeting is the operational treasury layer: balances that are not investable in the traditional sense because they need to remain liquid for payment runs but that sit idle for hours or days because stablecoin rails settle faster than counterparties can deploy the incoming cash.
The weekend accrual feature is commercially relevant precisely because 24/7 settlement creates a structural dead zone that traditional bank sweeps cannot address. Whether the yield rates on offer are compelling enough to move treasurers who are already comfortable with their existing bank arrangements is the open question. Redemptions return within one to two business days, which introduces a small but real liquidity gap for treasurers who need same-day access to funds. That constraint will bear watching as the product matures.
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