Coinbase and tokenized asset issuer Spiko have launched a landmark partnership to enable institutional investors to subscribe to and redeem European UCITS money market funds using stablecoins. Leveraging Coinbase Payments infrastructure, the integration marks the first time a fully compliant European mutual fund framework will accept native digital assets, specifically USDC and EURC, for near-instantaneous settlement.
The infrastructure update fundamentally transforms corporate treasury management by eliminating traditional bank transfer processing windows and multi-day settlement cycles.
Dismantling the T+2 structural bottleneck
The partnership is designed to remove delays that have long slowed institutional investing. Investors can now move between stablecoins and Treasury bill money market funds instantly instead of waiting through traditional bank transfers and T+2 settlement cycles. The change gives institutions faster access to liquidity while reducing idle capital.
Spiko’s EU T-Bills Money Market Fund and US T-Bills Money Market Fund now accept subscriptions in USDC and EURC. Both funds operate under the European Union’s UCITS framework, which sets standards for investor protection and regulatory oversight. Coinbase Payments processes the transactions, while Base provides low-cost blockchain settlement.
Coinbase said the new payment infrastructure supports continuous subscriptions, fast redemptions, secure wallet management, and automated capital flows. Investors can redeem Treasury bill fund holdings and receive stablecoins within minutes, allowing institutions to manage treasury operations more efficiently throughout weekends and public holidays.
Coinbase expands stablecoin infrastructure
The partnership with Spiko builds on Coinbase’s broader effort to connect traditional finance with blockchain technology. Earlier this year, Coinbase Asset Management launched the tokenized credit fund CUSHY for institutional investors. The fund lets qualified investors hold tokenized credit assets across Ethereum, Solana, and Base while maintaining traditional financial controls.
Coinbase has also expanded its stablecoin-backed credit business through a partnership with Apollo Global Management. The collaboration covers collateralized lending, direct corporate lending, and tokenized investment products. Coinbase Asset Management President Anthony Bassili said, “The global stablecoin ecosystem, which operates 24/7 on blockchain rails, creates opportunities not available in traditional private credit portfolios.”
The company has also remained active in shaping the U.S. stablecoin market. Last month, lawmakers reached a bipartisan compromise on stablecoin rewards under the CLARITY Act. Separately, DeFiLlama data showed the stablecoin market reached about $312.3 billion despite a modest weekly decline, highlighting continued long-term growth across the digital asset sector.
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