CoinShares Launches OnChain Asset Management Business Through Strategic Partnership with Safe
The platform was developed by a small internal team without significant incremental headcount or capital investment.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
CoinShares (CSHR) launched its first commercial OnChain Strategies deployment through an enterprise distribution partnership with Safe Labs and Railnet.
The business extends distribution beyond exchange-traded products to blockchain infrastructure. Safe enterprise users can access managed stablecoin strategies combining decentralised finance yields with yields from tokenised real-world assets, while retaining ownership and control. CoinShares designs the strategies, manages their risk framework and earns recurring fees on assets delegated to smart contracts, without taking custody or committing balance sheet capital.
Safe supplies the account layer; Railnet, developed by Kiln, supplies operating infrastructure. Redemptions depend on underlying liquidity and settlement mechanics. CoinShares expects to extend the architecture to additional enterprise distribution partners over time.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Hollow bars mark forward-looking points. How the balance works
Positive
- Moderate pointFirst commercial OnChain Strategies deployment adds enterprise distribution through Safe Labs and Railnet beyond exchange-traded products.
- Minor pointRecurring fees accrue on assets delegated to smart contracts, without custody or balance sheet capital commitments.
- Minor pointPlatform development required no significant incremental headcount or capital investment.
- Minor point. Forward-looking: it has not happened yet and may not happen.CoinShares expects to extend the architecture across additional enterprise distribution partners over time.
Negative
- Minor pointRedemptions are subject to the liquidity and settlement mechanics of the underlying strategies.
News Explained
Safe accounts collectively hold more than
Key Figures
- Assets held in Safe smart accounts
- More than US$60 billion
- Safe smart accounts collectively
- Safe smart accounts
- More than 63 million accounts
- Safe smart accounts collectively
- Stablecoins held in Safe accounts
- Approximately US$7.5 billion
- Partnership distribution ecosystem
- Share of global stablecoin market
- Roughly 2.5%
- Article compares Safe-held stablecoins with the circa US$300 billion global stablecoin market
- Global stablecoin market
- Circa US$300 billion
- Market-size comparison stated in the article
Key Terms
defi financial
tokenised real-world assets financial
stablecoin financial
smart contracts technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
New capital-light distribution channel enables CoinShares to deliver professionally managed DeFi and tokenized RWA strategies directly through enterprise blockchain infrastructure.
JERSEY, Channel Islands - Wednesday 14 October 2026 - CoinShares PLC (Nasdaq: CSHR) ("CoinShares" or the "Company"), a leading global asset manager specialising in digital assets, today announced the first commercial deployment of its OnChain Strategies business through a strategic enterprise distribution partnership with Safe Labs, the entity behind Safe{Wallet}, and Railnet, the on-chain infrastructure layer developed by Kiln. The partnership enables Safe's enterprise users, including organisations such as the Ethereum Foundation and Circle, to access CoinShares' professionally managed stablecoin yield strategies while retaining full ownership and control of their assets.
The launch marks the beginning of a new distribution route for CoinShares, extending the Company's asset management capabilities beyond exchange-traded products and directly onto blockchain infrastructure.
The strategies combine decentralised finance (DeFi) yields with yields generated by tokenised real-world assets (RWAs) — bringing traditional, off-chain sources of return on-chain alongside native crypto yields within a single professionally risk-managed framework.
Historically, CoinShares has generated recurring revenues primarily through listed investment products distributed across traditional financial infrastructure. OnChain Strategies introduce a complementary distribution channel, allowing CoinShares to deliver professionally managed investment strategies directly through blockchain infrastructure while applying the same disciplined investment process and risk framework that underpin its regulated asset management business.
Unlike exchange-traded products, where distribution is intermediated through brokers, exchanges and financial advisers, OnChain Strategies are distributed natively through digital asset platforms where clients already hold their assets. Safe is the first major enterprise distribution partner for this model, which CoinShares intends to expand over time across additional wallets, exchanges, fintech platforms and institutional infrastructure providers.
In this model, CoinShares neither takes custody of client assets nor commits balance sheet capital. Instead, it designs the investment strategies, manages the associated risk framework and earns recurring fees on assets delegated to smart contracts. The result is a highly scalable, capital-light business capable of generating recurring revenues while requiring limited incremental capital or operating investment.
Safe smart accounts collectively hold more than US
Under the partnership, Safe enterprise users can allocate stablecoin holdings into CoinShares-managed strategies directly from their existing Safe accounts while retaining ownership and control of their assets throughout the investment lifecycle. Redemptions are subject to the liquidity and settlement mechanics of the underlying strategies
CoinShares is responsible for designing the investment strategies and managing the associated risk framework. Railnet provides the on-chain operating infrastructure through Kiln's existing integration with Safe, while Safe provides the enterprise-grade account layer where client assets already reside.
The platform was developed by a small internal team without significant incremental headcount or capital investment, reflecting CoinShares' disciplined approach to innovation and capital allocation. As additional enterprise platforms adopt the model, distribution can expand without materially increasing operating costs, creating meaningful operating leverage over time.
CEO Commentary
Jean-Marie Mognetti, Co-Founder, President and Chief Executive Officer of CoinShares, said:
"For more than a decade, CoinShares has built its asset management franchise by delivering investment strategies through traditional financial markets. Today, we are adding a second distribution engine. We believe the next phase of asset management will increasingly involve delivering investment strategies directly through the infrastructure where clients already hold their assets. Our partnership with Safe is an important first step in that evolution.
What makes this particularly attractive is the economics. We can leverage our existing investment capabilities, risk management expertise and infrastructure to reach new clients without building a custody business or committing significant balance sheet capital. It is a natural extension of our strategy, creating new opportunities for recurring fee income while preserving the capital discipline that has defined CoinShares."
The Safe partnership establishes the commercial blueprint for CoinShares' OnChain Strategies business. The Company expects to extend the same architecture across additional enterprise distribution partners over time, broadening access to professionally managed on-chain investment strategies while further diversifying its sources of recurring fee income.
About CoinShares
CoinShares is a leading global asset manager specialising in digital assets, that delivers a broad range of financial services across investment management, trading and securities to a wide array of clients that includes corporations, financial institutions and individuals. Focusing on crypto since 2013, the firm is headquartered in Jersey, with offices in France, Sweden, Switzerland, the UK and the US. CoinShares is regulated in Jersey by the Jersey Financial Services Commission, in France by the Autorité des marchés financiers, and in the US by the Securities and Exchange Commission, National Futures Association and Financial Industry Regulatory Authority. CoinShares is publicly listed on the Nasdaq under the ticker CSHR. For more information, please visit https://coinshares.com
Contacts
Company | +44 (0)1534 513 100 | enquiries@coinshares.com
Investor Relations | +44 (0)1534 513 100 | corporateir@coinshares.com
Press Contact
CoinShares
Benoît Pellevoizin
bpellevoizin@coinshares.com
M Group Strategic Communications
Peter Padovano
coinshares@mgroupsc.com
FAQ
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