Coinshift Launches csUSDL, Announces Strategic Partnerships

November 21, 2024 – Abu Dhabi, United Arab Emirates

Coinshift, a prominent name in on-chain treasury management, has launched csUSDL – an LLT (liquid lending token) 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 on-chain 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 U.S. Treasury Bills and cash equivalents.

CsUSDL builds on Paxos’ expertise, honed in prominent RWA (real-world asset) 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 USDL’s $2 billion treasuries program.

Tarun Gupta, founder and CEO of Coinshift, said,

“No individual or organization should have to compromise between stablecoin features such as reward rates or regulatory compliance.

“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.

Gupta said,

“It’s a new era of secure, liquid lending.”

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.

Gupta added,

“We envision csUSDL becoming an essential component of treasury strategies for businesses and DAOs, too.”

Users can discover csUSDL at the website.

About Coinshift

Since 2021, Coinshift manages $1 billion in Safe accounts and has helped organizations power $1 billion in payments.

An established leader in on-chain 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.