Spiko plugs Coinbase stablecoin rails into EU T-bill funds — first UCITS to say oui to USDC

Spiko has linked two regulated European Union Treasury-bill funds to Coinbase's stablecoin payment infrastructure, allowing eligible investors to fund subscriptions and receive redemption proceeds in USDC and EURC. Coinbase said Tuesday the integration covers Spiko's EU T-Bills Money Market Fund and US T-Bills Money Market Fund. Both products are structured as Undertakings for Collective Investment in Transferable Securities, or UCITS, and Coinbase Payments is providing the payment, wallet and application programming interface infrastructure. Transactions settle on Base, Coinbase's layer-2 network, and Coinbase described the funds as the first UCITS products in Europe to accept direct stablecoin payments.

The launch lands as UCITS flows turned sharply positive in April, according to data published Monday by trade group EFAMA. UCITS recorded net inflows of 104 billion euros that month, reversing net outflows of 41 billion euros in March, and net sales reached a record 828 billion euros in 2025, surpassing the previous 2021 high of 813 billion euros.

Coinbase framed the integration as a demonstration of how stablecoins can reshape payments infrastructure for mutual funds by reducing friction at the entry and exit points. Investors can submit subscriptions at any time, including weekends and holidays, and redemption proceeds can be delivered to a stablecoin wallet within minutes after a position is liquidated. Spiko, however, said the Coinbase connection introduces a new payment method rather than changing the underlying funds, and Cointelegraph reported it did not receive a response from Coinbase on order execution before publication.

Other asset managers have pursued similar 24/7 access for tokenized funds. In February, WisdomTree received approval for round-the-clock secondary trading and instant USDC settlement of its tokenized Treasury fund, with liquidity supplied by its broker-dealer while primary fund processes remained unchanged. That same month, Franklin Templeton and Binance introduced a program allowing institutions to pledge tokenized fund shares as off-exchange trading collateral while the assets remained in regulated custody.