Spiko Connects EU-Regulated T-Bill Funds to Coinbase Stablecoin Rails
French fintech Spiko has integrated Coinbase Payments into two EU-regulated Treasury funds, allowing investors to subscribe and redeem using USDC and EURC via the Base network.
A quiet but consequential bridge between traditional regulated finance and onchain infrastructure is taking shape in Europe. French fintech Spiko has integrated Coinbase Payments into two EU-regulated UCITS Treasury funds, allowing investors to move capital in and out of those funds using the stablecoins USDC and EURC — both settled over Base, Coinbase's Ethereum layer-2 network.
The significance lies in the regulatory wrapper. UCITS — Undertakings for Collective Investment in Transferable Securities — is the European Union's gold standard for retail-eligible investment funds, a framework built over decades to protect ordinary investors. Attaching stablecoin payment rails to a UCITS structure signals a meaningful step toward legitimizing crypto infrastructure as plumbing for mainstream financial products, not merely speculative vehicles.
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For investors, the practical implication is the ability to access dollar- and euro-denominated Treasury bill exposure directly from a crypto wallet, bypassing traditional banking intermediaries for the subscription and redemption process. T-bill funds have surged in popularity globally as a yield-bearing alternative to idle stablecoin holdings, and Spiko's move positions EU-regulated versions of that product within reach of the onchain economy.
The integration also reflects a broader strategic push by Coinbase to embed its payment and stablecoin infrastructure into institutional and quasi-institutional financial products. Base, as the settlement layer, benefits from increased transaction volume and real-world use cases that extend well beyond retail crypto trading. Whether other EU fund managers follow Spiko's lead could hinge on how regulators interpret stablecoin-denominated fund flows under the incoming MiCA framework.
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