Spiko and Twenty First Capital select CACEIS 07 October 2024France Reporter: Clelia Frondaroli
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Spiko, a French blockchain-based fintech, and Twenty First Capital, an independent asset management company, have selected CACEIS to act as the custodian and depositary of their tokenised money market funds.
As custodian, CACEIS will enable clients to subscribe into the first French Undertakings for the Collective Investment in Transferable Securities (UCITS) money market fund delivered on Ethereum's public blockchain.
Future developments will further enable clients to receive redemption proceeds directly on the blockchain, with the integration of stablecoins and tokenised deposits.
Co-founder and CEO of Spiko, Paul-Adrien Hyppolite, states: "With CACEIS's offer, we now bring investors a cutting-edge technology solution for custody of shares in the first tokenised money market UCITS on Ethereum’s public blockchain."
Laurent Majchrzak, group head of digital assets at CACEIS, adds: "Clients are now able to invest in digital assets with the same level of security and reliability as enjoyed by traditional assets."
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