Digital asset manager CoinShares announced Wednesday a new onchain asset management strategy that combines decentralized finance (DeFi) yields with tokenized real-world assets (RWAs) within a regulated framework. Developed in partnership with infrastructure provider Kiln, the strategy is powered by the Railnet orchestration layer.
Core Structure: Multi-Source Yield Management
The offering introduces a third pillar to CoinShares' platform, alongside its crypto exchange-traded products and actively managed strategies. It integrates multiple yield sources—including DeFi lending, institutional secured lending, and tokenized asset yields—into a single managed allocation. The portfolio draws from six distinct yield sources, with allocations adjusted dynamically based on market conditions and risk assessments. The structure diversifies across credit, liquidity provision, and relative value opportunities while maintaining a consolidated risk view.
Regulatory Framework and Infrastructure
The strategy is managed under CoinShares Asset Management, which holds regulatory authorization under AIFMD and MiFID for financial instruments, as well as MiCA for crypto-assets. This dual authorization allows allocation across both traditional securities and crypto markets within a single compliant framework, a capability CoinShares describes as uncommon among asset managers.
Railnet serves as the underlying infrastructure, connecting multiple venues and standardizing yield management from DeFi protocols, secured lending platforms, and tokenized assets. The setup enables execution across different markets without being limited to a single protocol's liquidity, while maintaining auditable oversight of portfolio activity.
Industry Perspective: Convergence of TradFi and DeFi
CoinShares CEO Jean-Marie Mognetti said the initiative reflects the firm's long-standing view that traditional finance (TradFi) and DeFi are converging into a unified system of capital allocation. He described the strategy as a structured approach combining multiple independent sources of return, including credit and liquidity-based opportunities, within a regulated investment framework.
Kiln CEO Laszlo Szabo added that Railnet bridges short-term blockchain activity with longer-term financial processes by encoding real-world constraints directly into onchain infrastructure. The platform standardizes settlement, timing, and liquidity management across fragmented markets.
CoinShares also noted that the architecture enables business-to-business distribution, allowing custodians, exchanges, and wallet providers to offer institutional-grade yield strategies to clients through a unified system. This expands access beyond simple asset holding to more complex income-generating products. The launch aligns with CoinShares' broader expansion strategy across crypto ETPs, actively managed portfolios, and onchain asset management.