# Spiko EU T-Bills Money Market Fund (EUTBL) Quantum Readiness Report

> Spiko EU T-Bills Money Market Fund has a QRI score of 6.33/100 and is assessed at Stage 1 (Quantum Risk Assessed) with medium evidence confidence.

Evaluation date: 2026-06-02. Review status: draft. Evaluated scope: Tokenized fund share (ERC-20 / Stellar / StarkNet) with cross-chain bridge dependency.

Spiko EU T-Bills Money Market Fund (EUTBL) is a ~$1B regulated tokenized RWA deployed across 7 chains with zero post-quantum cryptographic protection. All transaction authorization, admin key operations, bridge signing, and permit signatures rely entirely on classical ECDSA (EVM chains) or Ed25519 (Stellar). No PQC features exist in production, testnet, roadmap, or proposal form. The project has not published a quantum risk assessment or cryptographic inventory. However, as a KYC-gated UCITS fund with centralized issuer control (freeze, upgrade, reissue capabilities), EUTBL qualifies for the PQ-Recoverable tag: the issuer can legally reconstruct the ledger off-chain and re-deploy on a quantum-secure infrastructure after an attack. This recoverability is a meaningful mitigant but does not constitute quantum resistance—it does not prevent quantum-enabled theft, unauthorized minting, or bridge compromise in the current production system. Score: 6.33/100 (Stage 1: Quantum Risk Assessed, Medium confidence).

## Core resources

- [Spiko EU T-Bills Money Market Fund QRI report](https://qrindex.org/projects/eutbl/): Human-readable assessment with score, stage, evidence, blockers, risks, and assurance notes.
- [Spiko EU T-Bills Money Market Fund structured report data](https://qrindex.org/projects/eutbl/report.json): Complete report as JSON for deterministic machine processing.
- [QRI methodology](https://qrindex.org/methodology/): Scoring model, evidence handling, readiness stages, confidence, assurance, and report status.
- [All QRI project reports](https://qrindex.org/llms.txt): Score-ranked index of every published project assessment.
- [Spiko EU T-Bills Money Market Fund official website](https://www.spiko.xyz): Project-maintained website.
- [Spiko EU T-Bills Money Market Fund source repository 1](https://github.com/spiko-tech/contracts): Project source code referenced by QRI.



## Evidence sources

- [Evidence source 1](<https://github.com/spiko-tech/contracts>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 2](<https://tech.spiko.io/posts/spiko-smart-contracts/>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 3](<https://etherscan.io/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 4](<https://github.com/spiko-tech/stellar-contracts>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 5](<https://github.com/trailofbits/publications/blob/master/reviews/2023-10-spiko-securityreview.pdf>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 6](<https://github.com/spiko-tech/contracts/blob/main/contracts/token/Token.sol>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 7](<https://etherscan.io/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80#balances>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 8](<https://app.rwa.xyz/assets/EUTBL>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 9](<https://coinstats.app/coins/eutbl/>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 10](<https://www.kraken.com/prices/spiko-eu-t-bills-money-market-fund>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 11](<https://www.spiko.xyz>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 12](<https://tech.spiko.io>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 13](<https://github.com/spiko-tech/contracts/security>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.
- [Evidence source 14](<https://etherscan.io/token/0xa0769f7a8fc65e47de93797b4e21c073c117fc80#code>): Public source cited by the Spiko EU T-Bills Money Market Fund QRI assessment.