Tokenized assets managed by Spiko's Money Market Funds surge to a TVL of $70 million.
Spiko, a regulated decentralized finance (DeFi) platform, is making waves in the DeFi industry with its focus on fixed-income tokenized money market funds. As of mid-2025, Spiko manages over $416 million in assets, following a successful $22 million Series A funding round led by Index Ventures.
Leveraging Chainlink’s Cross-Chain Interoperability Protocol (CCIP), Spiko ensures secure and compliant transfers of its regulated funds across multiple blockchains. This integration enhances the security, interoperability, and compliance of Spiko's fixed-income offerings onchain, positioning it as a notable player in the tokenized real-world asset (RWA) and regulated DeFi sectors.
Spiko offers two tokenized fixed-income products: USTBL and EUTBL. Investors can deposit USD or its equivalent stablecoins for USTBL, and EUR or its equivalent stablecoins for EUTBL, with a minimum investment of $1,000 or 1,000 euro respectively.
USTBL, operating on the Ethereum chain, has experienced the largest inflows so far, with nearly $24 million worth of tokens deposited on August 28. This represents over 70% of the current total value locked (TVL). USTBL generates an annual yield of approximately 5%, backed by short-term US Treasury Bills.
EUTBL, based on Polygon, a layer 2 scaling solution for Ethereum, has an annual yield of 3.77%, backed by short-term bonds issued by leading Eurozone economies. As of now, EUTBL has over $40 million worth of deposits.
The broader DeFi ecosystem is also experiencing growth, with total value locked (TVL) surging to $153 billion by July 2025, a 57% increase over three months. Spiko, while not among the top TVL leaders, benefits from this trend, with its integration with Chainlink and its regulated status signifying a mature approach to DeFi money markets, appealing to institutional and compliant user bases.
Both USTBL and EUTBL are authorized by the French Financial Markets Authority, and the funds' assets are held by CACEIS Bank, a custodian institution of Crédit Agricole and Santander. Since its recent listing on DefiLlama in mid-August, Spiko's TVL has increased by 140%.
In mid-June, Spiko announced a 4 million euro pre-seed round led by Frst, joined by Blockwall, Kima, Financière Saint James, and Bpifrance. Spiko's growth and success underscore the potential of regulated DeFi fixed-income products, marking a significant step forward in the integration of real-world assets with onchain finance.
Sources:
- DeFi Pulse
- Chainlink Blog
- Spiko Press Release
- CoinMarketCap
- TechCrunch
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