Abu Dhabi, UAE, November 21st, 2024, Chainwire
Coinshift, a prominent name in onchain treasury management, has launched csUSDL: a liquid lending token (LLT) designed to optimize reward opportunities, security, and transparency for both individual and institutional investors. The announcement follows the release of the new Coinshift Business, which integrates payments and accounting services offered at no charge for DAOs and onchain businesses.
The innovative treasury product – Coinshift’s first – is backed by USDL, a next-generation, RWA-backed stablecoin issued by Paxos International. Notable for passing yield directly to users, USDL’s unique features include FSRA regulation in ADGM, transparency supported by monthly audited reports and reserves held in US Treasury Bills and cash equivalents.
csUSDL builds on Paxos’ expertise, honed in prominent RWA projects such as PayPal’s stablecoin PYUSD, to offer users additional potential rewards by connecting to DeFi borrowing and lending protocols.
Coinshift’s new LLT is built on Morpho, an emerging category leader whose non-custodial protocol allows csUSDL to benefit from lending yields and competitive borrowing rates without intermediaries. Deposits on Morpho’s core product exceed $2 billion in crypto assets.
Adding to a strong network of strategic partners, csUSDL vaults are curated by Steakhouse Financial. The stablecoin specialists work with leading on-chain companies and DAOs such as Lido and Arbitrum, as well as MakerDAO, where they advise token holders on the management of USDS’s $2 billion treasuries program.
“No individual or organization should have to compromise between stablecoin features such as reward rates or regulatory compliance,” says Coinshift founder and CEO Tarun Gupta. “With csUSDL, we have found a way to leverage all the potential of the blockchain ecosystem: security, transparency, self-custody, and interoperability. Users no longer need to choose between liquidity and yield.”csUSDL is seamlessly integrated with the broader DeFi ecosystem. Users have opportunities to access token incentives from Coinshift, Morpho, and other partners. Future plans include enabling users to enhance their potential earnings through strategies on select DeFi platforms.
The new LLT is accessible through Coinshift’s platform, which reflects the company’s ongoing commitment to excellent user experience and thoughtful design. “It’s a new era of secure, liquid lending,” says Gupta.
According to Coinshift’s projections, csUSDL holders may see an annual yield of up to 10%. Boosted by token rewards and DeFi and partner programs, potential APY can far exceed that number, the company says, commensurate to individual user’s engagement and risk profile.
Coinshift’s stated mission is to bring the value of RWAs into DeFi to drive sustainable, long-term growth for users. “We envision csUSDL becoming an essential component of treasury strategies for businesses and DAOs, too,” adds the CEO.Users can discover csUSDL at coinshift.global
About Coinshift
Since 2021, Coinshift manages $1B in Safe accounts and has helped organizations power $1B in payments. An established leader in onchain treasury management, Coinshift’s business platform is used by more than 300 organizations, including Aave, Starknet, Gitcoin, UMA, and Zapper. With csUSDL, Coinshift brings its DeFi and RWA vision and expertise to individuals as well as institutions, empowering all users to take control of their capital – and maximize their potential earnings.
Coinshift is backed by investments from Tiger Global, Sequoia, ConsenSys, and Polygon.
ContactHead of BusinessTom AlbrechtCoinshifttom@multisafe.finance