Amundi Launches SAFO Tokenized Fund! European Asset Management Giant Charges into 520 Billion Dollar RWA Market

Amundi Launches SAFO Tokenized Fund, Integrating Ethereum, Stellar, and Chainlink to Enter Corporate Funding and Collateral Management, Accelerating RWA Market Infrastructure.

Amundi Launches Tokenized Fund Focused on Corporate Funding and Collateral Management

Europe’s largest asset manager, Amundi, recently announced the launch of a new tokenized fund, the “Spiko Amundi Overnight Swap Fund (SAFO),” marking its further entry into the real-world assets (RWA) market. The fund is issued in partnership with tokenization platform Spiko, using a French-regulated SICAV sub-fund structure, primarily targeting corporate and financial institution funding and collateral needs.

At launch, SAFO committed approximately $100 million in assets, offering four currencies: EUR, USD, GBP, and CHF. Designed as a cash-like instrument, it utilizes a fully collateralized total return swap with large banks to maintain overnight liquidity while seeking returns above risk-free rates.

Amundi acts as the investment manager, with CACEIS responsible for fund custody and administration, and Spiko providing tokenization infrastructure and transfer agency services, demonstrating the gradual integration of traditional finance with blockchain infrastructure.

On-Chain Mechanisms and Real-Time Settlement: Toward Infrastructure for Tokenized Funds

Technologically, SAFO employs a dual-chain design, issuing on both Ethereum and Stellar networks. Ethereum offers smart contract and DeFi integration capabilities, while Stellar emphasizes low-cost, fast transfers, enabling 24/7 cross-border liquidity.

Additionally, the fund incorporates Chainlink to bring net asset value (NAV) on-chain, enabling real-time, transparent price disclosures. Through APIs and smart contracts, it allows programmable access, enabling enterprises to directly integrate the fund into their financial and treasury management systems.

Image Source: X/@chainlink Chainlink integrates NAV on-chain for real-time transparency

Compared to traditional blockchain-wrapped money market funds, SAFO emphasizes “operability,” including near-instant settlement, flexible custody, and borderless transfers. This shift gradually transforms tokenized funds from mere investment products into integral parts of corporate financial operations.

Amundi also notes that investors can subscribe and redeem starting from as little as one unit, lowering entry barriers and expanding use cases for professional investors.

RWA Market Rapidly Expanding, Approaching $52 Billion

Amundi’s move coincides with rapid growth in the RWA market. According to data from The Block, the on-chain tokenized RWA market has grown from $15.2 billion at the start of 2025 to nearly $52 billion today, indicating an accelerating trend of assets being tokenized and brought on-chain. In terms of public blockchains, Ethereum remains the largest market with approximately $17.85 billion in tokenized assets, followed by Provenance blockchain with about $15.84 billion.

Image Source: The Block The on-chain tokenized RWA market has grown to nearly $52 billion

Market participants are also expanding. Besides Amundi and Spiko, products from BlackRock’s BUIDL and Circle’s USYC have quickly accumulated assets, intensifying competition in tokenized cash management and short-term asset markets.

Spiko previously stated that its platform’s asset management has surpassed $1.03 billion, with over 92% of assets from corporate clients, indicating that RWA applications are beginning to be adopted by institutional players.

Traditional Asset Managers Entering, Tokenized Finance Moving Toward Mainstream

Amundi manages over €2.3 trillion in assets, and the launch of SAFO is seen as a key extension of its digital asset strategy. As early as the end of 2025, the company issued tokenized shares of a money market fund on Ethereum; this time, it further expands into more operationally flexible fund management tools.

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Managing €2.3 Trillion! Amundi Launches Its First Tokenized Share, Officially on Ethereum

From a market perspective, tokenized finance is gradually moving from concept validation to practical application. Companies are no longer just viewing blockchain as an investment target but are integrating it into daily financial operations, including fund management, collateral liquidity, and cross-border settlements.

With major asset managers entering the space, the future development of RWA tokenization is becoming clearer. The focus will shift from merely bringing assets on-chain to transforming these assets into programmable, liquid, and integrable financial infrastructure.

This content is summarized by Crypto Agent from various sources, reviewed and edited by Crypto City. It is still in training and may contain logical biases or inaccuracies. The content is for informational purposes only and should not be considered investment advice.