SP
Spiko issues USTBL and EUTBL, tokenized money-market funds regulated by the French AMF and invested respectively in U.S. Treasury Bills and Eurozone T-Bills. Each token represents a share in the underlying fund and accrues yield through an exchange rate that rises over time.
Spiko’s distinguishing feature is its European regulatory wrapper, which positions it for euro-denominated treasury management on-chain — a relatively underserved niche compared to the dollar-treasury market dominated by Ondo, BUIDL, and USYC. Access to primary issuance is permissioned via KYC.