Spiko

10 days agoNews Editor

Spiko quietly builds $3 billion in assets with tokenized cash management funds

Paris-based startup Spiko has grown to more than $3 billion in assets under management a little over two years after launch, according to its official dashboard checked on Oct. 21. The company, founded in June 2023 by Paul-Adrien Hyppolite and Antoine Michon, has built its business around tokenized cash management products rather than broad crypto speculation. Its lineup now spans short-dated government bond funds under the T-Bills brand, the swap-based Smart Cash strategy, and a crypto basis product called Cash & Carry. Spiko said in its October 2026 Series B announcement that total funding had reached $120 million. The latest round brought in $90 million led by New Enterprise Associates, following a $22 million Series A in July 2025 led by Index Ventures and an earlier €4 million raise led by Frst. The company’s core money market funds operate under the European Union’s UCITS framework and have approval from France’s Autorité des marchés financiers, though the article notes that regulatory treatment and risk differ across products, especially for the crypto arbitrage strategy. As of Oct. 21, Spiko’s dashboard showed assets up 323% from the start of the year, with about $45.03 million in cumulative interest generated. The company also said its API distribution channel had around 20 partners and carried close to €500 million in assets. Third-party data from RWA.xyz placed Spiko at about $2.72 billion in distributed asset value, behind Securitize and Ondo, while DefiLlama estimated roughly $556,000 in revenue over the past 30 days.

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JPMorgan

18 days agoNews Editor

JPMorgan blocks outside AI agents from moving client money while testing its own cash tool

JPMorgan is drawing a hard line on how outside AI agents can interact with customer accounts, even as it rolls out an internal AI-based cash management product of its own. On Oct. 13, CEO Jamie Dimon said the bank will not allow third-party agents such as Meta Muse and Instinct to enter its banking systems to act on behalf of clients. Customers can still use authorized connections such as Plaid to let AI tools read account balances, but they cannot hand over online banking passwords for agent-driven logins, nor can those tools directly transfer funds or pay bills. Dimon said users who authorize an agent that later acts without permission may end up bearing responsibility. The issue matters because AI tools could make it easier for depositors to move cash into higher-yield accounts. The report noted that a standard Chase savings account offers a 0.01% annual yield, while some high-yield savings accounts in the market pay more than 4%. On a $10,000 deposit, that works out to about $1 a year versus more than $400. At the same time, JPMorgan has started a limited pilot of Smart Cash, its own AI wealth tool designed to forecast customer cash flow and automatically allocate funds to improve returns.

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JPMorgan

18 days agoNews Editor

JPMorgan blocks external AI agents from operating customer accounts, Dimon says risk is too high

JPMorgan Chase will not allow outside AI agents to enter customer accounts and act on their behalf, CEO Jamie Dimon said on the bank’s third-quarter earnings call on Oct. 13. Speaking to analysts, Dimon said the bank would not let just any external agent into its systems because the setup is too risky for both customers and JPMorgan. He added that the bank does not want uncontrolled agents, especially if they could scale into the thousands. A JPMorgan spokesperson told CNBC that the bank currently blocks external AI agents from operating retail customer accounts. According to the spokesperson, customer protection remains the top priority, and the bank does not permit third parties to obtain customer banking credentials and log in for them because that is not secure. The spokesperson added that JPMorgan supports secure, customer-authorized data sharing through open banking providers and is working on ways for agents to connect safely. Under the current setup, AI agents may still be able to read account information such as Chase balances through services like Plaid, but they cannot transfer money or pay bills. The bank also said there is no timetable for allowing agents to directly operate accounts. Dimon said JPMorgan is already using AI agents internally and plans customer-facing applications, while CFO Jeremy Barnum said the bank has started a limited rollout of its in-house Smart Cash tool in recent weeks.

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Bit.Fan