Spiko's $90M Series B Signals Institutional Momentum for Tokenized Cash

Spiko raised $90 million in Series B funding to expand its $2.7 billion tokenized cash fund business, reflecting growing institutional interest in blockchain-based money market solutions. The capital will fuel geographic expansion and product development as traditional finance increasingly explores digital alternatives to conventional treasury instruments.

Spiko has secured $90 million in Series B financing, a milestone that underscores growing institutional appetite for tokenized money market instruments. The infrastructure company, which currently manages $2.7 billion in tokenized cash funds, plans to deploy the capital across geographic expansion and product development—a strategic move as traditional finance increasingly explores blockchain-native liquidity solutions.

Tokenized cash funds represent one of the more pragmatic applications of blockchain technology in institutional finance. Rather than speculating on volatile asset classes, these vehicles offer yield-bearing positions in short-duration fixed income through a digital wrapper, combining the regulatory clarity of traditional money market funds with the settlement efficiency and programmability of tokens. For sophisticated investors and corporate treasurers, the appeal lies in accessing overnight or ultra-short-term rates while maintaining custody flexibility and intra-day liquidity that conventional infrastructure cannot easily provide. As regulatory frameworks mature around stablecoins and tokenized securities, fund managers have gained confidence deploying capital at meaningful scale.

Spiko's $2.7 billion asset base reflects a competitive but still nascent market. Established players like Ondo Finance and Franklin Templeton have also launched tokenized cash products, signaling that this category extends beyond experimental blockchain startups into legacy finance's digital ambitions. The Series B raise suggests Spiko has demonstrated both capital efficiency and product-market fit—essential credibility markers for a company handling billions in institutional assets. The funds will likely accelerate hiring in compliance, treasury management, and technical infrastructure while opening access to new jurisdictions where demand for tokenized liquidity products has been building among regional banks and asset managers.

Broader implications remain significant: sustained capital inflows into tokenized cash funds could reshape how institutions manage working capital, reduce settlement friction across borders, and create natural bridges between traditional finance and on-chain liquidity pools. If this funding round reflects genuine institutional conviction, we may be witnessing the early establishment of a new asset class that prioritizes utility over speculation.