Spiro Links Coinbase Stablecoin Payment Infrastructure to Two European Treasury-Type Money Market Funds

Spiro has integrated Coinbase's stablecoin payment infrastructure into two European-regulated Treasury-type money market funds. Qualified investors can now subscribe to the funds using USDC and EURC, and receive redemption proceeds in stablecoins. Coinbase Payments provides the payment and wallet infrastructure, with settlements occurring on Coinbase's Layer2 network. Coinbase called these products the first UCITS funds in Europe to accept direct stablecoin payments. Investors can now subscribe anytime, including weekends and holidays, and receive redemption proceeds in stablecoin wallets within minutes after position liquidation. However, the funds themselves are not available for continuous subscription/redemption 24/7, as the integration adds a new payment method rather than altering the funds. Other asset managers are also testing 24/7 access to tokenized money market funds. WisdomTree received approval for 24/7 secondary trading and instant USDC settlement for its tokenized Treasury fund in February.