Amundi, the largest asset manager in Europe, has launched the tokenized mutual fund SAFO with fintech firm Spiko, adding another institutional product to the real-world asset tokenization market. Amundi manages €2.3 trillion in assets, or about $2.5 trillion. The new fund uses Chainlink infrastructure to record net asset value on-chain and support secure cross-chain transfers.
SAFO is built as a cash-like vehicle with round-the-clock liquidity
SAFO, short for Spiko Amundi Overnight Swap Fund, is described as Europe’s first digitized UCITS overnight swap investment vehicle. It is structured as a cash-like product offering 24/7 liquidity and near-instant settlement. The trust generates yield through fully collateralized total return swaps with major banks, aiming for returns slightly above risk-free rates while keeping liquidity strong.
The fund supports EUR, USD, GBP, and CHF and operates on networks including Ethereum and Stellar. It launches with an initial commitment of about $100 million. The target market is corporate treasury teams and institutional investors looking for more efficient cash management tools.
Chainlink handles on-chain NAV data and cross-chain functionality
A core part of the structure is Chainlink’s role in the product stack. According to the source material, Chainlink enables SAFO’s net asset value data to be written directly on-chain and supports secure movement across chains. The setup also includes automated data updates, API and smart contract access, near-instant borderless transfers, and transparent on-chain records.
For institutional users, that means a fund format designed to move capital faster than traditional systems. The product keeps the profile of a cash management instrument while adding blockchain-based settlement and verification.
Traditional finance keeps pushing deeper into tokenized RWAs
The SAFO launch also reflects broader adoption of blockchain rails by established financial firms. Industry data cited in the source says the on-chain RWA market has grown to more than $27 billion in value, and projections suggest it could pass $100 billion by the end of 2026.
Large institutions exploring tokenization are mainly seeking faster settlement, global distribution, and continuous market access. SAFO puts those features into a fund aimed squarely at institutional cash management.