Ethena

Safe

Kamino

Hybrid

<p>CoinShares has outlined an integration with Safe Labs and Railnet to offer stablecoin yield strategies through Safe’s Earn widget while keeping users’ investment positions in self-custody, according to a press release dated Oct. 14.</p>
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 <div class="cn-block-summary__nav tabs"><span>Summary</span>
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   <li>CoinShares will design the stablecoin strategies and oversee their risk selection without holding users’ assets.</li>
   <li>Safe users will access the strategies through the Earn widget and can request withdrawals at any time.</li>
   <li>Railnet will supply the vault infrastructure connecting CoinShares’ strategies with the Safe wallet interface.</li>
   <li>The release lists jurisdiction and eligibility limits, including an exclusion for US persons, and warns yields vary.</li>
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<p>CoinShares, in the announcement, said the arrangement separates investment strategy design from custody: the asset manager selects the strategies and their risks, Railnet supplies the technology, and Safe Labs provides the account interface.</p>
<p>Under the structure described in the release, users decide when to deposit funds and request withdrawals. The company said their positions remain in their own Safe accounts throughout, while CoinShares neither takes custody nor gains discretionary control over their money.</p>
<p>The announcement identifies CoinShares Capital Markets (Jersey) Limited as the provider of the strategies. Its terms state that availability depends on jurisdiction and eligibility, yields are not guaranteed, and digital assets carry a risk of losing value.</p>
<p>You might also like: <a href="https://crypto.news/bitcoin-could-benefit-from-rising-u-s-debt-fears/" rel="noopener noreferrer nofollow"> Bitcoin could benefit from rising U.S. debt fears: CoinShares </a></p>
<h2 class="wp-block-heading" id="coinshares-stablecoin-strategies-keep-custody-with-users">CoinShares stablecoin strategies keep custody with users</h2>
<p>Through a third-party widget integrated into Safe{Wallet}, Railnet connects the investment strategies with users’ accounts, according to the release. CoinShares described Railnet as vault infrastructure originally developed by Kiln that allows asset managers to build and distribute blockchain-based strategies without developing custom infrastructure for each offering.</p>
<p>For Safe Labs, the arrangement places another financial service inside the wallet used by businesses and blockchain-based organizations to manage assets. The release says Safe Labs supplies self-custody smart account infrastructure and does not provide investment services, advice, or recommendations.</p>
<p>Rahul Rumalla, Safe’s CEO, said the integration allows users to access professionally designed stablecoin strategies through their existing accounts.</p>
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 <p>“Safe’s role is to give enterprises and onchain organisations secure, programmable control over their assets.”</p>
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<p>In the same statement, Rumalla said the companies were combining asset management, vault technology and account infrastructure without requiring users to surrender custody.</p>
<p>The release lists corporate treasuries, foundations, family offices, blockchain-based organizations and individual crypto investors among the intended users. CoinShares said the offering addresses demand for investment oversight alongside control over assets.</p>
<h2 class="wp-block-heading" id="treasury-demand-drives-coinshares-move-into-wallet-based-yield">Treasury demand drives CoinShares’ move into wallet-based yield</h2>
<p>According to CoinShares, businesses and institutions increasingly want stablecoin services that extend beyond holding and transferring funds. The company argued that treasury teams need risk oversight and operational controls when selecting yield products, while unfamiliar protocols and third-party custody can present obstacles.</p>
<p>To describe the size of the market, the release cited DefiLlama data showing stablecoin balances above $315 billion as of June 23. CoinShares used that dated figure to support its argument that a large pool of stablecoin capital could be put to work through treasury strategies.</p>
<p>Jean-Marie Mognetti, CoinShares’ co-founder, president and CEO, described the integration as an extension of the company’s investment work in regulated markets.</p>
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 <p>“Institutions shouldn’t have to choose between maintaining control of their assets and accessing professionally designed yield strategies.”</p>
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<p>Mognetti said the company was taking investment practices developed over more than a decade onto blockchain networks. His statement described the collaboration as the company’s first major step toward delivering asset management directly through those networks.</p>
<p>For Railnet, CEO and co-founder Laszlo Szabo said demand includes risk-managed strategies and access to income from real-world assets. He said existing blockchain infrastructure had not been built for sophisticated asset managers and described Railnet’s work as providing the transparency and settlement infrastructure they need.</p>
<h2 class="wp-block-heading" id="safe-has-already-expanded-access-to-stablecoin-products">Safe has already expanded access to stablecoin products</h2>
<p>An earlier partnership provides background on Safe’s use for stablecoin treasury management. A Jan. 13 announcement published by crypto.news detailed Safe Foundation’s <a href="https://crypto.news/safe-and-ethena-partner-to-boost-usde-on-multisig-wallets/" rel="noopener noreferrer nofollow">partnership with Ethena Labs</a> to expand access to USDe within its smart account ecosystem.</p>
<p>At that time, the partners said Safe accounts held more than $6 billion in stablecoin assets on Ethereum mainnet, including $65.1 million in sUSDe. Their announcement also listed sponsored Ethereum mainnet transaction fees for USDe holders and a tenfold multiplier under Ethena’s points program.</p>
<p>Separately, CoinShares has studied how income-producing assets are being used in decentralized finance. Its Aug. 6 Hybrid Finance report, produced with Token Terminal, measured <a href="https://crypto.news/coinshares-report-shows-rwa-deposits-tripling-to-7-4b~/" rel="noopener noreferrer nofollow">RWA deposits tripling</a> from $2.3 billion to $7.4 billion between the second quarters of 2025 and 2026.</p>
<p>Over the same period, total decentralized finance deposits fell about 15%, according to the research. The report placed almost 70% of measured real-world asset deposits on Ethereum and identified Aave, Morpho and Kamino as major venues for yield-bearing collateral.</p>
<p>CoinShares measured yields of roughly 3.2% to 5.5% across selected strategies in that study. Those figures covered the research sample, rather than returns promised for the Safe integration.</p>
<h2 class="wp-block-heading" id="us-access-restrictions-accompany-coinshares-product-expansion">US access restrictions accompany CoinShares’ product expansion</h2>
<p>For American readers, the release’s eligibility terms are directly relevant: its legal section lists the strategies as unavailable to US persons. CoinShares also identifies itself as Nasdaq-listed under CSHR, although the announcement places the strategy offering with its Jersey capital markets subsidiary.</p>
<p>In another product expansion, CoinShares <a href="https://crypto.news/coinshares-enters-europes-ucits-market-with-bitcoin-mining-etf-launch/" rel="noopener noreferrer nofollow">launched a mining ETF</a> on Deutsche Börse Xetra on July 21 through a new UCITS platform.</p>
<p>The company said the European fund structure opened access to pension funds, insurers and private banks whose investment mandates restricted purchases of debt securities, including physically backed digital asset exchange-traded products. CoinShares also said the platform would support additional regulated digital asset and thematic funds.</p>
<p>Read more: <a href="https://crypto.news/doublezero-federa-says-fast-market-data-private/" rel="noopener noreferrer nofollow"> DoubleZero’s Federa says fast market data should not be private </a></p>

CoinShares brings stablecoin yield to Safe wallets

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