Coinshift Launches CsUSDL, Announces Strategic Partnership

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Abu Dhabi, UAE, November 21, 2024, Chainwire

Coinshift, a prominent player in on-chain financial management, has launched csUSDL, a liquid lending token (LLT) designed to optimize reward opportunities, security, and transparency for both individual and institutional investors. This announcement follows the launch of the new Coinshift Business, which integrates payment and accounting services provided free of charge to DAOs and on-chain businesses.

Coinshift’s first innovative government bond product is backed by USDL, a next-generation RWA-backed stablecoin issued by Paxos International. Known for delivering returns directly to users, USDL’s unique features include ADGM’s FSRA compliance, transparency supported by monthly audit reports, and reserves held in U.S. Treasury securities and cash equivalents.

csUSDL builds on Paxos’ expertise honed in major RWA projects such as PayPal’s stablecoin PYUSD and connects to DeFi borrowing and lending protocols, providing additional potential rewards to users.

Coinshift’s new LLT is built on Morpho, an emerging category leader whose non-custodial protocol allows csUSDL to benefit from high lending yields and competitive lending rates without the need for intermediaries. Deposits for Morpho’s core products exceed $2 billion in cryptocurrency assets.

In addition to a strong network of strategic partners, the csUSDL vault is managed by Steakhouse Financial. Stablecoin experts are working with leading on-chain companies and DAOs such as Lido and Arbitrum, as well as MakerDAO, to advise token holders on the management of USDS’ $2 billion Treasury program.

“No person or organization should have to compromise between stablecoin features such as reward rates or compliance,” said Tarun Gupta, Coinshift founder and CEO. “With csUSDL, we have found a way to leverage the full potential of the blockchain ecosystem: security, transparency, self-custodial, and interoperability. Users no longer have to choose between liquidity and yield.”

csUSDL is fully integrated with the wider DeFi ecosystem. Users will have the opportunity to access token incentives from Coinshift, Morpho, and other partners. Future plans include enabling users to improve their earning potential through strategies on some DeFi platforms.

The new LLT will be accessible through Coinshift’s platform, reflecting the company’s ongoing commitment to superior user experience and thoughtful design. “Now is the new era of safe and liquid lending,” says Gupta.

According to Coinshift’s predictions, csUSDL holders could earn returns of up to 10% per year. Driven by token rewards and DeFi and partner programs, the potential APY could far exceed this figure, proportional to the engagement and risk profile of individual users, the company says.

Coinshift’s stated mission is to bring the value of RWA to DeFi, fostering sustainable, long-term growth for its users. “We believe csUSDL will become an essential component of financial strategies for enterprises and DAOs,” the CEO adds.

Users can discover csUSDL at coinshift.global.

Introduction to CoinShift

Since 2021, Coinshift has managed $1 billion in safe accounts and helped organizations support $1 billion in payments. As a leader in on-chain treasury management, Coinshift’s business platform is used by more than 300 organizations, including Aave, Starknet, Gitcoin, UMA, and Zapper. Through csUSDL, Coinshift brings its DeFi and RWA vision and expertise to individuals and institutions, empowering all users to control their capital and maximize their potential returns.

Coinshift supports investments from Tiger Global, Sequoia, ConsenSys, and Polygon.