Spiko Secures $22 Million in Series A Funding to Expand Tokenized Money Market Funds

According to BlockBeats, Spiko, a platform specializing in tokenized money market funds, has successfully raised $22 million in a Series A funding round. The investment was led by Index Ventures, with participation from White Star Capital, Frst, Rerail, Bpifrance, and Blockwall. Spiko aims to assist European businesses in earning daily cash interest through tokenized money market funds, addressing the cash yield disparity between Europe and the United States. The company anticipates that its assets under management will reach $1 billion by the end of the year.