Spiko announced that its Spiko Amundi Overnight Swap Fund, or SAFO, held $2.38 billion, based on data as of October 23 and published on October 29. The tokenized investment fund targets an overnight rate plus a spread through a securities portfolio and total return swaps. Unlike a bank deposit, it gives investors shares subject to the risks and conditions set out in the fund documents, while the blockchain records their ownership. Access to liquidity therefore depends on the redemption rules, including timelines, amounts, currencies and destination accounts. Activity on Stellar shows where the shares are recorded but does not represent an equivalent amount of cash.Native, and the next test will be the consistency of subscriptions, redemptions and product usage under normal and stressed conditions.
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