Coinbase (NASDAQ:COIN) is partnering with France based Spiko to support transfers utilizing dollar based stablecoin USDC. The company says that by using Coinbase Payments, Spiko has eliminated any settlement delays.
Spiko’s EU T-Bills Money Market Fund and the Spiko US T-Bills Money Market Fund are said to be the first UCITS (Undertakings for Collective Investment in Transferable Securities) to use stablecoins. EURC will also be incorporated.
The Spiko SICAV comprises UCITS money market funds investing in French, US and UK Treasury bills.
Coinbase explains that there is a growing number of tokenized assets but transfers and payments can become bottlenecks and stablecoins can alleviate this issue.
Value transfer can happen in “minutes” and an API can automate capital movement.
Coinbase says that by using Base, the transfers are not only fast but cost efficient.