SPKCC, issued by Spiko Finance (Spiko SAS), is a tokenized money market fund share that tracks Digital Assets Cash & Carry Fund, recorded onchain via a fully tokenized UCITS share registry [S1][S2].

The token gives a tokenholder economic exposure to Digital Assets Cash & Carry Fund (SPKCC), a regulated UCITS fund investing in short-term government Treasury Bills. The fund is accumulating and total-return, so interest accrues daily into the share NAV rather than rebasing token balances, and value accretes per share [S2]. The tokenholder bears a management fee of 0.25 percent per year, deducted daily on a prorated basis, with no entry, exit, transaction, or account-holding fees [S2][S1].

Spiko Finance is a simplified joint-stock company registered in Paris, France, and is a MiFID-authorized investment firm regulated by the French ACPR, while the funds are AMF-supervised money market UCITS managed by Twenty First Capital with CACEIS Bank as depositary [S3][S1][S2]. Each token legally represents a regulated UCITS fund share, not e-money or a stablecoin [S2]. Onboarding requires KYC and AML verification, and only allowlisted addresses may hold or receive tokens under a configurable compliance policy [S4][S5]. Daily liquidity is contractually guaranteed, with deposits and withdrawals processed daily in fiat or stablecoins; client cash is held by CACEIS, never by Spiko [S1][S2].

Tokens are ERC-20 based, with ERC-1363, ERC-2612, and ERC-2771 extensions, issued across Ethereum, Polygon, Arbitrum, Base, Starknet, and Stellar [S5][S6][S7]. A daily-operator role mints tokens to allowlisted addresses; redemptions are batched daily and tokens burned when transfers initiate [S5]. NAV is calculated daily by CACEIS, submitted to the AMF, and published onchain via a Chainlink oracle, while EURCV and USDCV stablecoins provide settlement [S5][S4][S8][S9].

<Sources
  retrievedAt="2026-06-21"
  items={[
    { id: "S1", url: "https://www.spiko.io/blog/spiko-launches-the-worlds-first-tokenized-money-market-funds" },
    { id: "S2", url: "https://www.spiko.io/spiko-treasury-bills-euro" },
    { id: "S3", url: "https://www.spiko.io/" },
    { id: "S4", url: "https://www.spiko.io/blog/spiko-chainlink-ccip" },
    { id: "S5", url: "https://tech.spiko.io/posts/spiko-smart-contracts/" },
    { id: "S6", url: "https://www.spiko.io/use-cases/web3" },
    { id: "S7", url: "https://tech.spiko.io/posts/stellar-integration/" },
    { id: "S8", url: "https://www.spiko.io/blog/spiko-in-collaboration-with-caceis-integrates-chainlink-infrastructure-to-bring-nav-data-onchain" },
    { id: "S9", url: "https://www.spiko.io/blog/spiko-morpho-sg-forge" },
  ]}
/>


# Asset transfer count methodology

## 1. Overview

Asset transfer count is defined as the number of user transactions that move assets between addresses. It is utilized to reflect how frequently assets are used for payments, trading, or other onchain activity. The metric is calculated daily for each tracked asset across all supported blockchains. By aggregating these transfer events, a comprehensive view of onchain utility and transactional velocity is provided.

## 2. Data sources

- **EVM chain events**: ERC-20 token transfers, covering EVM-compatible chains (Ethereum, Arbitrum, Base, Polygon, Optimism, and others)
- **Solana instructions**: SPL token transfers
- **Other blockchain events**: Token transfers, withdrawals, and mint events across non-EVM chains (Solana, Aptos, Near, Polkadot Asset Hub, Stellar, and others)
- **Asset metadata**: Token addresses and decimal precision

## 3. Step-by-step calculation

### Component A: Extract and count raw transfer events

- **Purpose**: Identify and count individual token transfer events on a daily basis for each asset.
- **Logic**: On EVM-compatible chains, ERC-20 token transfers are parsed and counted. On Solana, SPL token transfers are parsed and counted. On Aptos, Near, and Ripple, token transfers and withdrawals are parsed and counted. On Stellar, classic token withdrawals and Soroban token transfers are aggregated. On Sui, token withdrawals and token mint events are aggregated. On Cardano, UTXO withdrawals and token mint events are aggregated. On Polkadot Asset Hub, `Transferred` events from the `assets` pallet are parsed.
- **Key fields**: `token_address`: The unique identifier of the token contract or asset. `block_timestamp`: The timestamp of the transaction block.

### Component B: Daily aggregation and zero-filling

- **Purpose**: Aggregate the daily transfer counts per asset and ensure continuous time-series data.
- **Logic**: The extracted transfer counts are aggregated daily for each token address on its respective chain. For days where no transfer activity is recorded for a tracked asset, the time series is filled with zero values to ensure a continuous daily record.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The daily count of transfers per token on a specific chain.

### Component C: Final aggregation

- **Purpose**: Combine the daily transfer counts across all supported chains for each asset.
- **Logic**: The daily transfer counts from all individual chains are combined. Token addresses are mapped to unique asset identifiers using asset metadata. The final daily asset transfer count is then aggregated across all chains for each asset.
- **Key fields**: `timestamp`: The day of the activity. `asset_transfer_count`: The total aggregated daily transfer count for the asset.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of transfer transactions involving the asset.

Asset transfer count

Tokenized funds

The platform operates by pooling user deposits into regulated money market funds that exclusively invest in Treasury Bills from major Eurozone countries and the U.S. Federal Government, with daily interest payments and instant withdrawal capabilities. Spiko generates revenue through management fees while maintaining regulatory compliance and institutional-grade custody, offering API integrations for businesses and Web3 protocols seeking to provide risk-free yield on stablecoins and fiat currencies. The minimum initial deposit is €1,000 or $1,000 USD, with subsequent transactions starting from €1 or $1 USD.

Spiko offers daily interest-earning accounts in EUR, USD, and GBP that invest exclusively in government Treasury Bills, providing risk-free returns with complete liquidity and no lock-up periods. The platform serves various use cases from startup treasury management to Web3 applications, offering both traditional fiat access and on-chain integration for blockchain-based yield generation. Their products include API access for fintech integration and Web3 solutions that enable on-chain access to traditional money market fund returns.

Spiko is a regulated financial technology platform that provides seamless access to risk-free interest rates through money market funds backed by Treasury Bills. The company operates under EU law with French Financial Markets Authority (AMF) approval and custody services provided by Crédit Agricole.

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Real-world asset (RWA) issuers

Spiko

Spiko Digital Assets Cash & Carry Fund (SPKCC) is a tokenized fund share issued by Spiko through Spiko Digital Assets Cash & Carry Fund and managed by Twenty First Capital.

Each token is a direct claim on the issuer.

The fund is open-ended, invests in crypto assets, locks up subscriptions for 0 months, and charges a 0.1% annual management fee.

Its assets sit with CACEIS Bank, with PwC as auditor.

Professional investors and institutions can subscribe and redeem in USD, with a USD 120,000 minimum, and holders have a right to redeem at net asset value with two-to-five-business-day settlement.

Spiko Digital Assets Cash & Carry Fund is incorporated in France, is managed under the EU AIFMD framework, and is supervised by the Autorité des marchés financiers (AMF).

SPKCC has been issued on public blockchains since November 2024 and is native to 7 networks, including Stellar, Ethereum, Arbitrum One, Base, Polygon, and Starknet.

Spiko Digital Assets Cash & Carry FundSPKCC