Key Insights
- Regulated European UCITS money market funds have now been launched with stablecoin subscriptions and redemptions by Coinbase and Spiko.
- USDC and EURC are built to enable institutional investors to accomplish treasury management tasks in a quicker time frame, whilst maintaining blockchain settlement.
- The launch signifies another step towards mainstreaming blockchain technology in the regulated financial industry, as tokenized funds gain traction.
Coinbase has partnered with investment firm Spiko to introduce stablecoin subscriptions and redemptions for regulated European UCITS money market funds. The launch will enable eligible institutional investors to shift funds into Treasury-backed investment more quickly while also minimizing settlement times that have plagued traditional financial markets for a long time.
The integration enables investors to subscribe, redeem shares with USDC, EURC. It is also the first time European UCITS funds have received native stablecoin payments, which opens the door to the potential of continuous blockchain-based settlement for regulated investment products.
Stablecoins eliminate the need for the traditional settlement delays
The partnership involves Spiko’s EU T-Bills Money Market Fund and US T-Bills Money Market Fund, both subject to the European Union’s UCITS regime. The framework establishes uniformity in member states with regard to investor protection and fund supervision.
Investors are able to use Coinbase Payments to fund subscriptions and redeem in USDC or EURC. Transactions settle on Base, the company’s Ethereum Layer 2 network, which lowers transaction costs while supporting faster execution.
Unlike conventional bank transfers that often require business hours and T+2 settlement, the new infrastructure supports transactions throughout weekends and public holidays. Investors can also receive redeemed stablecoins within minutes after their positions are liquidated, improving access to liquidity.
Coinbase said the platform combines secure wallet services, payment APIs and automated capital flows to simplify institutional treasury operations.
Snapshot of the new integration
| Feature | Details |
|---|---|
| Funds covered | EU T-Bills Money Market Fund and US T-Bills Money Market Fund |
| Stablecoins supported | USDC and EURC |
| Settlement network | Base |
| Payment infrastructure | Coinbase Payments |
| Investor access | Eligible institutional investors |
| Availability | 24 hours including weekends and holidays |
Institutional finance moves further onchain
The latest partnership expands Coinbase’s broader strategy to connect regulated financial products with blockchain infrastructure. Earlier this year, the company launched its tokenized credit fund CUSHY for institutional investors across Ethereum, Solana and Base.
The company also expanded its relationship with Apollo Global Management through stablecoin-backed lending initiatives covering corporate credit and tokenized investment products.
Meanwhile, demand for regulated investment funds continues to recover across Europe. Industry association EFAMA reported that UCITS recorded net inflows of 104 billion euros in April after posting 41 billion euros in net outflows during March. In 2025, total net sales climbed to a record 828 billion euros, from 813 billion euros in 2021.
The announcement comes after the exchange recently expanded its operations in Europe following its acquisition of a Markets in Crypto-Assets license. With that approval, the company is allowed to provide services in the form of regulated digital assets across all EU member states.
The effects of tokenized capital markets are far-reaching
The integration is an example of the transition of tokenized money market funds from investment vehicles to something more. Stablecoins increasingly serve as payment infrastructure that connects blockchain capital with regulated financial products.
However, the new payment system does not change how the underlying funds process subscriptions and redemptions. Spiko said the integration introduces an additional payment method while existing fund operations remain unchanged.
The broader market has seen similar developments. Earlier this year, WisdomTree received approval for around-the-clock secondary trading with instant USDC settlement for its tokenized Treasury fund. Franklin Templeton and Binance also introduced a framework allowing institutions to use tokenized fund shares as off-exchange trading collateral while assets remain in regulated custody.
Recent research also supports growing institutional interest in blockchain settlement. A joint survey by EY-Parthenon and Coinbase found that 88% of institutional investors identified T+0 securities settlement as one of the strongest use cases for stablecoins.
Industry signals
- Stablecoins continue moving beyond crypto trading into regulated financial infrastructure.
- Tokenized Treasury funds are becoming tools for treasury management and collateral.
- Government rules are more and more adopting blockchain-based finance goods.
With the latest partnership, Coinbase joins a new trend in the regulated finance sector aimed at improved settlement times. While the basic processes for funds are unchanged, stablecoins now provide a viable method for moving capital for institutions more efficiently. With the widespread growth of tokenized investment products, regulated blockchain payments might be commonplace in global capital markets, and not just a niche innovation.
Conclusion
Coinbase has extended its reach of stablecoins in regulated investment funds in Europe, with a collaboration with Spiko. Eligible institutional investors are now able to subscribe to and redeem USDC and EURC UCITS money market funds. The integration brings a reduction in the delays of settlement and makes the capital more efficient. The money will remain regulated as they are now. The launch, however, reveals that the blockchain infrastructure is now a viable settlement platform for regulated financial products.
