Coinbase has announced a new partnership with Spiko Finance to expand stablecoin payments for regulated investment funds across Europe.
The collaboration follows Coinbase’s recent approval under the European Union’s Markets in Crypto-Assets regulation. It forms part of the exchange’s broader strategy to strengthen its presence in the European market.
Coinbase and Spiko Enable 24/7 Stablecoin Transactions
Coinbase said the partnership will provide instant stablecoin deposits and withdrawals for European UCITS investment funds.
Investors in Spiko’s European and US Treasury bill money market funds will be able to subscribe and redeem using USDC and EURC. Transactions will remain available around the clock, including weekends and public holidays.
According to Coinbase, the agreement represents Europe’s first partnership to integrate stablecoin payments directly into money market funds.
The service will use Coinbase Payments and operate through Base, Coinbase’s Ethereum Layer 2 network.
Partnership Targets Faster Fund Settlements
Traditional bank transfers and securities settlements can take several days to complete. These delays can limit liquidity and prevent investors from moving capital efficiently.
Coinbase and Spiko aim to reduce these waiting times by using blockchain technology and stablecoins.
Investors will be able to move unused stablecoin balances into short-term funds backed by government bonds. They can also redeem their investments back into USDC or EURC within minutes.
This process could provide faster access to funds than traditional financial settlement systems.
A survey conducted by EY-Parthenon and Coinbase reportedly found that 88% of institutional investors consider same-day, or T+0, settlement to be a major potential use case for stablecoins.
Coinbase Provides Wallet and Payment Infrastructure
Coinbase will supply the payment infrastructure required for the new service.
This includes cryptocurrency wallets and API connections that can automate the movement of capital between investors and funds.
Meanwhile, Base will provide low-cost blockchain settlement for stablecoin transactions.
The system is designed to allow regulated funds to receive and return capital more quickly while reducing their dependence on traditional banking hours.
COIN Stock Falls Despite Partnership Announcement
Despite the new European partnership, Coinbase shares declined during Tuesday’s pre-market trading session.
COIN stock fell 1.67% to approximately $149.12 on June 30.
The decline suggests that investors remained cautious, even as Coinbase continued to expand its regulated services in Europe.
MiCA License Strengthens Coinbase’s EU Position
The partnership comes shortly after Coinbase received a MiCA license and announced plans to establish its European Union headquarters in Luxembourg.
The authorization allows Coinbase to provide regulated cryptocurrency services across all 27 EU member states.
Securing MiCA approval could give Coinbase an advantage over competitors that have not yet obtained authorization.
Binance previously attempted to secure a MiCA license in Greece. However, the exchange later withdrew its application, leaving Coinbase in a stronger position to expand throughout the European market.
The Spiko partnership highlights Coinbase’s growing focus on stablecoins, tokenized financial products and faster settlement systems within the EU.
