Coinbase, Spiko enable stablecoin payments for UCITS funds

Coinbase and European fintech firm Spiko have launched a service enabling institutional investors to use stablecoins to subscribe to and redeem shares in regulated money market funds, a first for Europe’s UCITS fund structure. The integration, announced on June 30, allows capital movements using USD Coin (USDC) and Euro Coin (EURC) with near-instant settlement, operating around the clock.

The service applies to two of Spiko’s funds: the Spiko US T-Bills Money Market Fund and the Spiko EU T-Bills Money Market Fund. Both are Undertakings for Collective Investment in Transferable Securities (UCITS), a highly regulated European framework known for rigorous investor protections and continuous oversight. Coinbase provides the payment, wallet, and API infrastructure, with transactions settling on Base, the Ethereum layer-2 network developed by Coinbase.

This development directly addresses a longstanding inefficiency in traditional finance: settlement delays. Conventional fund subscriptions and redemptions are often bound by banking hours and can take several business days to complete. The new model enables investors to move capital into and out of the Treasury bill-backed funds within...