Coinbase and Spiko Bring Stablecoin Payments to EU T-Bill Funds

TLDR

• Coinbase and Spiko bring stablecoin payments to UCITS T-Bill funds

• USDC and EURC now support fund subscriptions and redemptions

  

• Coinbase Payments powers wallet, API, and settlement infrastructure

• Base handles low-cost blockchain settlement for fund transactions

• Spiko says the update adds payment rails, not fund structure changes

Coinbase and Spiko have connected stablecoin payments to regulated EU Treasury-bill funds, giving eligible clients faster fund access. The integration covers subscriptions and redemptions for two UCITS money market products. It also places USDC and EURC inside a familiar European fund structure.

USDC Rail Connects Spiko’s Dollar T-Bill Fund

Spiko’s US T-Bills Money Market Fund now accepts USDC through Coinbase Payments. The fund gives exposure to short-term U.S. Treasury bills under the UCITS framework. Coinbase provides wallet, payment, and API infrastructure for the new stablecoin payment route.

The transactions settle on Base, Coinbase’s layer-2 network. That setup links onchain capital with a regulated money market fund. It also reduces dependence on bank transfer windows and slower payment rails.

The change targets treasury teams that need faster movement between cash-like assets and fund holdings. Clients can submit subscriptions beyond standard banking hours, including weekends and holidays. However, Spiko said the integration adds a payment method and does not change the fund’s structure.

EURC Rail Adds Euro Access to Spiko’s EU T-Bill Fund

Spiko’s EU T-Bills Money Market Fund now supports EURC payments through the same Coinbase infrastructure. The fund operates under UCITS rules, which set European standards for oversight and client protection. Coinbase said the products mark the first European UCITS funds to accept direct stablecoin payments.

Redemption proceeds can move to a stablecoin wallet within minutes after liquidation. This feature gives treasury desks faster access to money after exiting a position. Yet the fund still follows its existing operating rules for subscriptions and redemptions.

The move comes as UCITS demand shows renewed strength in Europe. EFAMA data showed UCITS recorded 104 billion euros in net inflows in April. That followed 41 billion euros in net outflows in March, while 2025 net sales reached 828 billion euros.

Coinbase and Spiko Extend Tokenized Fund Utility

Coinbase framed the partnership as a step toward modern fund payment infrastructure. Stablecoin rails can reduce friction when clients enter or exit regulated products. They also connect blockchain settlement with conventional mutual fund operations.

The structure does not make the underlying funds operate continuously by itself. Instead, it gives approved clients another way to fund subscriptions and receive proceeds. This distinction matters because payment speed and fund processing remain separate functions.

Other asset managers have pursued similar tokenized fund use cases. WisdomTree gained approval earlier this year for round-the-clock secondary trading in a tokenized Treasury fund. Franklin Templeton and Binance also introduced tokenized fund shares as off-exchange collateral for institutions.

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