Spiko Amundi Overnight Swap Fund (GBP)

GBPSAFO Price

About Spiko Amundi Overnight Swap Fund (GBP) (gbpSAFO)

Spiko Amundi Overnight Swap Fund (GBP) is a tokenized money market fund share class providing on-chain exposure to Sterling overnight interest rates.

• The fund is authorized as a UCITS (Undertakings for Collective Investment in Transferable Securities) by the French Financial Markets Authority (AMF).
• It generates yields through total return swaps with global systemically important banks, primarily targeting the SONIA benchmark.
• The asset is available on multiple blockchain networks including Ethereum, Arbitrum One, Polygon PoS, and Stellar, with a minimum subscription of £1.

What Is Spiko Amundi Overnight Swap Fund (GBP)

Spiko Amundi Overnight Swap Fund (GBP) is a digital representation of a share class in a regulated French money market fund. It is designed to offer institutional-grade cash management for Web3 users, allowing them to earn yields on British Pound-denominated holdings. The fund is a collaboration between Spiko, a tokenization platform, and Amundi, Europe's largest asset manager.

Value moves through the system via subscriptions and redemptions where investors receive gbpSAFO tokens representing their fund shares. The token is put to work by being backed by a portfolio of financial instruments and total return swap agreements that accrue interest daily. This interest is automatically reflected in the token's value as an accumulating fund. The ecosystem scales as more capital is deposited, allowing the fund to negotiate favorable terms with a wider range of Tier 1 banking counterparties.

What Makes Spiko Amundi Overnight Swap Fund (GBP) Unique

• Regulated UCITS Structure: Unlike many DeFi yield products, gbpSAFO is a fully licensed UCITS fund supervised by the French AMF, providing a high level of investor protection and regulatory compliance.
• Tier 1 Bank Backing: The fund's yield is generated through contractual arrangements with global systemically important banks like BNP Paribas, reducing exposure to typical decentralized protocol risks.
• Overnight Liquidity: The fund maintains T+1 liquidity, ensuring that investors can access their funds on a daily basis despite the institutional nature of the underlying assets.
• Multi-Chain Accessibility: The shareholder register is hosted across several major blockchains, including Ethereum and Arbitrum, facilitating broad interoperability for Real World Assets.

What Can You Use Spiko Amundi Overnight Swap Fund (GBP) for?

The pegged asset for this fund is the British Pound.

1. Value retention: The asset allows users to hold a digital, on-chain representation of the British Pound, potentially reducing exposure to crypto-market volatility by tracking a stable fiat currency.
2. Yield generation: Investors can earn a net yield derived from Sterling overnight interest rates (SONIA). This is achieved through total return swaps with Tier 1 banks, providing a regulated alternative to decentralized lending or liquidity provisioning.
3. Cross-border settlement / value transfer: gbpSAFO can be used for international value transfer of Sterling-denominated assets, leveraging blockchain technology for efficient cross-border settlement as supported by its multi-chain availability.
4. Collateralization: The source indicates the asset can be held in Web3 wallets, though it does not specify direct use as collateral in third-party borrowing or lending protocols at this time.

How Does Spiko Amundi Overnight Swap Fund (GBP) Work?

The fund utilizes a total return swap (TRS) mechanism. In this arrangement, the fund holds a portfolio of liquid financial instruments (collateral) such as listed equities. Each day, the returns of this portfolio are swapped with a Tier 1 banking counterparty. In exchange for the portfolio's performance, the bank pays the fund a guaranteed daily yield based on the SONIA benchmark.

This structure allows the bank to gain off-balance-sheet exposure to the assets while the fund receives a stable interest rate. If the counterparty defaults, the fund retains full ownership of the collateral portfolio, which can be liquidated to protect investor capital. Transaction fees for interacting with the token on-chain are paid in the native network asset of the Layer 2 or Layer 1 network, as gbpSAFO does not have a native gas role.

Team Info and Investors

The fund is managed by Amundi Asset Management, Europe's largest asset manager. Spiko acts as the tokenization and distribution partner. CACEIS (a subsidiary of Crédit Agricole) serves as the depositary bank and custodian, while PwC is the appointed auditor performing four annual audits. The project is backed by institutional partnerships with major global banks including Societe Generale, Goldman Sachs, and J.P. Morgan.

Where can you buy Spiko Amundi Overnight Swap Fund (GBP)?

GBPSAFO tokens have stopped trading - ago on all exchanges listed on CoinGecko. Information will be updated if market activity resumes.

What is the daily trading volume of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO)?

The 24 hour trading volume of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) is $0 which signals a drop in market activity. If you own GBPSAFO tokens, liquidity of the token is likely to be low. Proceed with caution. You may explore CoinGecko’s list of most traded cryptos for coins with higher liquidity.

What is the highest and lowest price for Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO)?

Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) reached an all-time high of $1.37 and an all-time low of $1.33. It’s now trading -0.50% below that peak and 2.80% above its lowest price.

What is the market cap of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO)?

Market capitalization of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) is $30,886,561 and is ranked #626 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of GBPSAFO tokens (23 Million tokens are tradable on the market today).

What is the fully diluted valuation of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO)?

The fully diluted valuation (FDV) of Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) is $30,886,561. This is a statistical representation of the maximum market cap, assuming total number of 23 Million ETH tokens are in circulation today.

How does the price performance of Spiko Amundi Overnight Swap Fund (GBP) compare against its peers?

With a price decline of 0.00% in the last 7 days, Spiko Amundi Overnight Swap Fund (GBP) (GBPSAFO) is outperforming the global cryptocurrency market which is down -0.80%, while underperforming when compared to similar Polygon Ecosystem cryptocurrencies which are up 0.00%.