CoinShares wants to put idle corporate stablecoins to work, and it wants to do it without ever touching the keys.
The European asset manager announced on October 14, 2026, that it is launching a new OnChain Strategies business with Safe Labs and Railnet. The goal is to give enterprise users professionally managed stablecoin yield strategies while they keep full self-custody of their funds.
How the setup works
CoinShares handles the plan. Specifically, CoinShares Capital Markets (Jersey) Limited designs the strategies and manages the associated risk. Crucially, it does this without taking control or custody of user funds.
Safe Labs, the team behind Safe{Wallet}, provides the doorway. Users reach the strategies through Safe’s Earn widget, directly from the Safe accounts they already use.
Railnet supplies the vault. It is the on-chain infrastructure layer developed by Kiln, and it provides the vault plumbing that the transactions run through.
Enterprise clients, including the Ethereum Foundation and Circle, are among those able to use the strategies through their existing Safe accounts.
The strategies blend two sources of return. One is decentralized finance (DeFi) yield, generated by on-chain lending and similar protocols. The other is returns from tokenized real-world assets (RWAs), which are traditional instruments represented as tokens on a blockchain. Both sit inside what CoinShares describes as a risk-managed framework.
The fine print
First, the product will carry no fees for the first six months.
Second, the product is not available to US investors.
Third, yield is not guaranteed. Performance depends on market conditions and on how well the underlying strategies actually work.
Why Safe is the distribution prize
Safe manages about $60 billion in self-custodied assets across 63 million accounts. Of that, approximately $7.5 billion sits in stablecoins.
By plugging into Safe’s Earn widget, CoinShares gets access to that pool without having to win clients one by one. CoinShares does not need to build a wallet, onboard users, or hold assets.
Background: a second date with Railnet
This is not the first time CoinShares and Railnet have worked together.
Earlier in 2026, around June, CoinShares announced a collaboration with Railnet and Kiln focused on diversified on-chain strategies. The new Safe partnership builds on that relationship and adds a major distribution channel on top.
CoinShares has framed its ambitions around becoming a regulated asset manager that brings traditional finance standards to on-chain investing for institutions.
What this means
There are real risks to watch. The blend of DeFi yield and tokenized RWAs means exposure to smart contract risk, protocol risk, and the quality of the underlying real-world assets. CoinShares is explicit that yield depends on market conditions and strategy effectiveness.
The six-month fee holiday is the other thing to track. The real test is how much of Safe’s roughly $7.5 billion in stablecoins stays deployed once fees kick in.
Disclosure: This article was edited by Kaye Quema. For more information on how we create and review content, see our Editorial Policy.