Spiko US T-Bills Money Market Fund (USTBL) stablecoin analytics
Answer First
What is Spiko US T-Bills Money Market Fund (USTBL)?
USTBL is Spiko's regulated short-term U.S. Treasury fund tokenized for EU and global investors under an AMF-authorized UCITS money market structure. The static profile records its US Dollar-denominated NAV accounting mechanism as: USD-denominated NAV-accreting share token (ISIN FR001400ODM9) of the Spiko SICAV short-term VNAV money market sub-fund authorised by the AMF, invested in short-dated U.S.
Is USTBL safe?
USTBL holds a C+ Safety Score grade (63/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spiko US T-Bills Money Market Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of the Spiko SICAV certifying annual accounts (prospectus art. 24: financial-statement certification and pre-publication asset-composition checks). AMF GECO publishes the fund's 2026-06-30 semiannual report, which names PwC but does not contain an audit opinion; a current dated annual auditor report was not verified.; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
Static Profile
Static stablecoin profile
Spiko US T-Bills Money Market Fund (USTBL) static profile: governance model Centralized (CeFi); backing model Real-World Asset Backed; peg US Dollar-denominated NAV.
AI summary / Updated Sep 7, 2026
USTBL is the USD-denominated sister fund to Spiko's EUTBL: the same AMF-regulated UCITS money-market fund architecture, the same ERC-1967 upgradeable proxy, and the same multi-chain rollout, now spanning Ethereum, Arbitrum, Polygon, Base, Etherlink, Stellar, and Starknet with Chainlink CCIP announced for cross-chain movement, but holding short-dated U.S. Treasury bills instead of Eurozone sovereigns.
AI summary · drafted by claude-fable-5-1 · facts as of Sep 7, 2026
- Collateral
- Short-dated U.S. Treasury bills and operational bank balances held by an AMF-authorized UCITS short-term VNAV money market fund, with a regulatory weighted-average maturity ceiling of 60 days
- Peg Mechanism
- USD-denominated NAV-accreting share token (ISIN FR001400ODM9) of the Spiko SICAV short-term VNAV money market sub-fund authorised by the AMF, invested in short-dated U.S. Treasury bills and operational bank balances with a regulatory weighted-average maturity ceiling of 60 days; subscription and redemption are KYC-gated to allowlisted wallets through Spiko's transfer agent with a daily 11:30 Paris cutoff settling at the day's published NAV (next-business-day clearing for late orders) and a $1 prospectus minimum. The management company may gate redemptions at a 10% net-assets threshold for up to 20 NAVs over three months, with a maximum one-month duration; electronic-money-token redemptions may not settle the same day. Chainlink CCIP interoperability was announced, but no production adapter was identified in the reviewed sources. Prospectus: https://cdn.spiko.finance/legal_docs/EN/Prospectus_Spiko_SICAV_EN.pdf
- Jurisdiction
- France / AMF / UCITS Short-Term VNAV Money Market Fund
- Proof Of Reserves
- Independent Audit by PricewaterhouseCoopers Audit, statutory auditor of the Spiko SICAV certifying annual accounts (prospectus art. 24: financial-statement certification and pre-publication asset-composition checks). AMF GECO publishes the fund's 2026-06-30 semiannual report, which names PwC but does not contain an audit opinion; a current dated annual auditor report was not verified. Reserve source
Next Actions
Exact bot target: /subscribe dews,depeg,safety ustbl-spiko
Source: checked-in StablecoinMeta profile fields. Live price, supply, reserve, liquidity, event, and safety data load in the interactive dossier below; the summary above was last updated Sep 7, 2026.
USTBL quick answers
What is Spiko US T-Bills Money Market Fund (USTBL)?
USTBL is Spiko's regulated short-term U.S. Treasury fund tokenized for EU and global investors under an AMF-authorized UCITS money market structure. The static profile records its US Dollar-denominated NAV accounting mechanism as: USD-denominated NAV-accreting share token (ISIN FR001400ODM9) of the Spiko SICAV short-term VNAV money market sub-fund authorised by the AMF, invested in short-dated U.S.
Is USTBL safe?
USTBL holds a C+ Safety Score grade (63/100) in Pharos's latest published rating — a middle-tier grade that meets baseline expectations but carries meaningful weaknesses, so Pharos does not consider it clearly safe. Static metadata says Spiko US T-Bills Money Market Fund uses a Centralized (CeFi) governance model and Real-World Asset Backed backing, with Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of the Spiko SICAV certifying annual accounts (prospectus art. 24: financial-statement certification and pre-publication asset-composition checks). AMF GECO publishes the fund's 2026-06-30 semiannual report, which names PwC but does not contain an audit opinion; a current dated annual auditor report was not verified.; the main caveat is that issuer or admin freeze controls are recorded. Treat the live peg, liquidity, reserve, dependency, and Safety Score sections below as the current risk read.
What backs USTBL?
Pharos classifies USTBL backing as Real-World Asset Backed. Collateral, per the static profile: Short-dated U.S. Treasury bills and operational bank balances held by an AMF-authorized UCITS short-term VNAV money market fund, with a regulatory weighted-average maturity ceiling of 60 days Reserve evidence: Independent Audit from PricewaterhouseCoopers Audit, statutory auditor of the Spiko SICAV certifying annual accounts (prospectus art. 24: financial-statement certification and pre-publication asset-composition checks). AMF GECO publishes the fund's 2026-06-30 semiannual report, which names PwC but does not contain an audit opinion; a current dated annual auditor report was not verified..
Can USTBL be frozen or blacklisted?
Based on tracked contract metadata and blacklist coverage, issuer or admin freeze controls are recorded. Live freeze and blacklist events for USTBL, when applicable, appear in the dossier below.
