Spiko raises $90M to challenge BlackRock in tokenized cash
European tokenized-cash startup Spiko has raised $90 million in equity funding, positioning itself to compete with US giants including BlackRock in the market for on-chain cash equivalents. The round was first reported by Bloomberg.
The startup’s approach appears to involve tokenized funds, a space that has seen growing interest from both startups and established players. Spiko has not disclosed its valuation or backers, leaving its strategy and differentiation unclear.
The raise comes as tokenized assets continue to attract attention, though adoption has yet to match some earlier projections. Spiko’s challenge will be turning investor interest into real traction, particularly if incumbents leverage their existing advantages.
What comes next: whether Spiko can carve out a meaningful role in the space or if it will struggle to compete with larger, more established firms. The round’s size suggests strong backing, but the path forward is still undefined.
Sources: bloomberg.com
“A $90M round signals investor confidence in tokenized cash as a potential segment, even as the competitive landscape remains uncertain.”
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