Announcing Spiko

Spiko, the leading platform for tokenized money market funds, uses Dfns to secure and automate its wallet infrastructure. Idle cash is costly. Trillions of euros sit in accounts earning nothing, and Spiko helps businesses put that cash to work through regulated, yield-generating strategies. Fresh off a $22 million funding round led by Index Ventures, the company is expanding across Europe, with Dfns powering the secure, automated wallet flows that keep its platform scalable and compliant.

Spiko, the new gold standard for enterprise treasuries

Spiko is a fintech platform that helps businesses put dormant cash to work by providing access to tokenized money market funds backed by Treasury Bills. Its API-first, blockchain‑based infrastructure lets companies earn daily interest with zero lock‑ups and full liquidity via digital and fiat on‑ and off‑boarding.

Founded in 2023 by former French government advisors Antoine Michon and Paul‑Adrien Hyppolite, Spiko now has over $400 million in assets under management and has processed over $900 million in corporate working capital from over 1,000 businesses all through organic growth in just its first year. On July 17, 2025, the company closed a $22 million Series A round led by Index Ventures, with backing from White Star Capital, Frst, Rerail, Bpifrance’s Digital Venture Fund, and fintech founders and executives from Revolut, Wise, Kyriba, Bridge, Blackstone, and Pennylane.

Paul‑Adrien Hyppolite summed it up: “In Europe, there’s a mistaken belief that your money won’t earn interest unless you lock it away or take on risk.… Sitting on idle cash means European businesses are missing out on returns that US competitors routinely receive. With Spiko, we’re changing the game.”

The capital will accelerate platform distribution, product development, fintech partnerships, and marketing across Europe. Spiko aims to surpass $1 billion in AUM by the end of 2025 and position itself amongst the top players in treasury management. Their goal is simple: make institutional-grade money market products accessible to businesses of all sizes, from early-stage startups to large corporates.

In Europe, most company cash sits idle in current accounts. Access to high-quality yield products remains limited, often gated behind legacy banking infrastructure, intermediaries, or delayed settlement cycles. In the US, money market funds are widely adopted across the business landscape. In Europe, they are mostly reserved for large institutions. Spiko is bridging that gap. Their platform gives companies direct access to euro- and dollar-denominated money market funds, fully regulated and backed by sovereign debt. The product is accessible online or via API, requires no custodial account setup, and offers full liquidity with daily interest accrual. Under the hood, these are standard UCITS-compliant SICAV structures, registered with the AMF and administered by leading custodians such as CACEIS.

The experience is designed to be seamless: users can deposit funds via SEPA, Swift, or stablecoins, and subscribe to fund shares in just a few clicks. Funds remain available at all times. For fintechs and neobanks, the API makes it easy to embed Spiko’s funds into their own interfaces (Memo Bank and Fygr are already live).

But Spiko’s innovation goes further. Each fund share is tokenized onchain. This unlocks new capabilities for transparency and control: every transaction, allocation, and redemption is publicly auditable. Each investor becomes a direct shareholder of the underlying fund and can transfer their shares, subject to compliance whitelisting, without involving a custodian or transfer agent.

Why Spiko chose Dfns to power its wallet infrastructure

To support this infrastructure, Spiko needed a secure and programmable wallet management solution that could operate behind the scenes, integrate with their system, and scale with demand. Spiko started using Dfns wallets both for its own treasury and for client-facing activities. All tokens representing shares in the euro and dollar money market funds are secured and managed using Dfns technology. Our infrastructure allows Spiko to issue and track wallet addresses at scale, automate transfers and settlements, and enforce operational safeguards via programmable policies.

With Dfns, Spiko can set granular access controls for each wallet while signing policies define which systems or users can authorize transactions, under what conditions, and with what approvals. This ensures separation of duties and minimizes operational risk even as assets move across dozens or hundreds of legal entities.

For client shares, Dfns makes it simple to create segregated wallets per client and/or per structure. Fund tokens can be sent to these whitelisted wallets directly, without compromising security or requiring manual handling. The system is interoperable with stablecoins, custodians, and regulated fund platforms, while remaining chain-agnostic and modular in design.

And because Dfns is API-first, Spiko was able to integrate our infrastructure into their platform without building custom wallet logic from scratch. Our developer tooling allows them to automate deposits, monitor balances, trigger redemptions, and log activity in real time.

In short, Dfns gives Spiko the flexibility to move fast without sacrificing security or control. It’s the kind of foundation a financial infrastructure company needs when the goal is to scale across Europe and reinvent how the treasury is managed in the process.

Start building with Dfns today: app.dfns.io/get-started