€2.3T Manager Amundi Launches Tokenized Fund on Ethereum

Edgen Crypto·Mar 19 2026, 18:31

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Key Takeaways

Amundi, Europe's largest asset manager, has launched a tokenized mutual fund in a significant move for institutional adoption of blockchain technology. The fund, named SAFO, is built on Ethereum and Stellar and aims to modernize cash and collateral management for corporate clients, signaling a deepening integration between traditional finance and on-chain assets.

Europe’s largest asset manager, Amundi (€2.3 trillion AUM), has launched the Spiko Amundi Overnight Swap Fund (SAFO), a tokenized mutual fund on Ethereum and Stellar.
The fund launches with $100 million in committed capital and targets corporate treasury and collateral management with 24/7 transferability.
The move utilizes Chainlink for on-chain data and reflects accelerating institutional adoption of Real World Asset (RWA) tokenization, a market that has grown to over $27 billion.

Amundi Debuts Tokenized Fund With $100M in Capital

Amundi, Europe’s largest asset manager with over €2.3 trillion in client funds, has launched a tokenized mutual fund with an initial commitment of $100 million. The product, named Spiko Amundi Overnight Swap Fund (SAFO), is structured as a UCITS vehicle under French law and is available on both the Ethereum and Stellar blockchains. It targets corporate and institutional clients for treasury and collateral management, offering a cash-equivalent instrument with 24/7 transferability.

The fund, managed by Amundi with CACEIS as depositary bank, uses fully collateralized total return swaps to generate yields above risk-free benchmarks. It is available in euro, US dollar, pound sterling, and Swiss franc share classes. Spiko, a fintech firm, provides the tokenization infrastructure and transfer agency, marking another step in its expansion after surpassing $1.03 billion in assets under management in February.

Institutional Adoption Pushes RWA Market Growth

The launch of SAFO represents a major validation for the Real World Asset (RWA) tokenization sector, which has already grown to over $27 billion in on-chain value and is projected by some analysts to exceed $100 billion by 2026. By bringing a regulated, institutional-grade product on-chain, Amundi joins a growing trend of traditional financial giants building on blockchain infrastructure. This trend was further underscored by market maker Flow Traders recently launching 24/7 OTC liquidity for tokenized assets like equities and gold.

Chainlink's technology underpins the SAFO fund, providing a critical service by publishing the fund’s net asset value (NAV) directly on-chain. This feature enhances transparency and enables key functionalities such as API access, smart contract integration, and near-instant settlement. This move by Amundi demonstrates that tokenization is evolving beyond simple wrappers for money market funds into functional financial infrastructure designed for programmable finance and efficient collateral mobility.