CoinShares leverages Railnet to launch on-chain asset management strategy combining DeFi and tokenised real-world asset yields
9 min read
First regulated European asset manager to structure a strategy spanning DeFi lending, institutional secured lending, RWA yields, and basis arbitrage within a single institutional-grade product, powered by the Kiln's Railnet orchestration layer.
11 March 2026 | SAINT HELIER, JerseyCoinShares International Limited ("CoinShares" or "the Group") (Nasdaq Stockholm: CS; US OTCQX: CNSRF), with an announced merger with Vine Hill Capital Investment Corp (Nasdaq: VCIC), a leading global asset manager specialising in digital assets, today announced a strategic partnership with Kiln, the institutional on-chain yield infrastructure provider. The firm will leverage its Railnet protocol to launch its first on-chain asset management strategy, with Railnet providing the verifiable trust layer for the future of capital allocation. The strategy integrates DeFi protocol yields with tokenised real-world asset (RWA) yields, marking the first time a fully regulated European asset manager has combined DeFi protocol yields with tokenised RWA within a single institutional-grade vehicle.
This launch represents the third pillar of CoinShares' investment platform. Alongside its market-leading crypto ETPs, the original securitization of digital assets, and its active alternative strategies designed to generate alpha, CoinShares now offers on-chain asset management: a capability that integrates native DeFi yields with tokenised RWA returns for enhanced diversification and a more robust risk framework.
Strategy composition
The strategy allocates across six distinct yield sources, spanning the full spectrum of on-chain opportunity. This diversified approach enables exposure across DeFi lending protocols, institutional secured lending, yields from tokenised bond funds and bond ETFs, and delta-neutral basis strategies, all within a single managed allocation. Portfolio composition may be adjusted over time based on market conditions and risk assessment.
Regulatory foundation
The strategy is managed by CoinShares Asset Management, a European asset manager authorized under AIFMD and MiFID for financial instruments and under MiCA for crypto-assets. This dual authorization enables CoinShares to allocate across regulated securities, tokenised financial instruments and native crypto-markets within a single compliant framework.
This regulatory architecture provides a structural advantage: many managers are authorized either for traditional financial instruments or for crypto-asset services, but not both. CoinShares’ dual perimeter allows cross-market allocation while maintaining full regulatory oversight across asset classes.
Jean-Marie Mognetti, CEO and Co-founder of CoinShares, commented: "On-chain is not another crypto product. It's a new distribution rail. For years, we have articulated our hybrid finance thesis, the convergence of traditional finance and decentralised finance. Today, that thesis becomes operational. With the Railnet technology, we are accessing yield sources that others cannot reach and combining them in ways others cannot structure. This is what it means to be the one-stop shop for digital asset investment. Importantly, this strategy is not a single-protocol yield product. It is a structured, diversified allocation across multiple independent risk premia — credit, liquidity provision, secured financing, and relative value — managed within a regulated framework"
Laszlo Szabo, CEO and Co-Founder of Kiln and Railnet, commented: “Finance is fundamentally the transformation of time. While DeFi has excelled at speed and leverage, durable wealth is created over longer horizons through real economic activity. Bridging these two worlds requires more than connectivity. It requires a system that reflects real-world constraints while encoding them directly on-chain.
Railnet was built as the foundational layer for this next era of finance. As blockchains increase the velocity of global capital, verifiable and programmable constraints become essential. This partnership enables CoinShares, one of the most forward-thinking digital asset managers, to focus on what they do best: identifying value, managing risk, and designing new investment products that blend DeFi and real-world assets in ways not previously available on-chain.
Railnet handles the complexity of financial time, settlement, and constraints, providing the rails for a more trustworthy, efficient, and institution-ready financial system.”
A structural advantage: cross-market, cross-venue allocation
Unlike strategies confined to single DeFi protocols offering pure DeFi yield, CoinShares investors gain access to a wide range of market opportunities without being locked into one venue's liquidity. Kiln’s Railnet provides the technical infrastructure connecting multiple markets and venues, enabling CoinShares to execute its allocation decisions across diverse yield sources within a single auditable framework. This architecture, combining DeFi lending, institutional secured lending, RWA tokenisation, and basis arbitrage, represents a structural differentiation that single-protocol strategies cannot replicate.
Enabling B2B distribution
Railnet provides the foundational infrastructure that makes this strategy possible by standardizing the entire investment lifecycle, from the instant liquidity of DeFi to the complex redemption windows of tokenised real-world assets. It allows asset managers to treat diverse yield sources as a single, manageable asset class. Railnet standardizes how yields are managed across DeFi protocols, secured lending platforms, and tokenised real-world assets within a single, auditable framework.
For CoinShares, this enables the design and management of sophisticated, multi-source yield strategies, while preserving full regulatory compliance and a consolidated view of portfolio risk.
For distribution partners such as custodians, exchanges, and wallet providers, it provides a turnkey path to offering institutional-grade yield products to their clients, backed by CoinShares’ decade of expertise and robust regulatory credentials across AIFM, MiFID, and MiCA.
Three growth pillars
This launch reinforces the Company's positioning across three distinct growth drivers:
Crypto ETPs — Passive exposure via the original securitization of digital assets. European and U.S. markets continue to expand as new trading venues list products and regulators adopt increasingly constructive approaches to digital asset investment vehicles such as ETPs.
Active alternative strategies — Alpha generation through managed digital asset portfolios. As institutional allocators grow more sophisticated in their understanding of digital assets, demand is shifting from passive exposure toward strategies designed to outperform.
On-chain asset management — Yield optimization across DeFi and tokenised RWA via Railnet. This capability opens both a new source of alpha and a new distribution channel, enabling wallet providers, crypto exchanges, and neobanks to offer their clients institutional-grade yield strategies beyond simple asset holding.
This diversification of capabilities positions CoinShares to capture opportunities across multiple segments of the evolving digital asset market.
About CoinShares
CoinShares is a leading global digital asset manager that delivers a broad range of financial services across investment management, trading, and securities to a wide array of clients that include corporations, financial institutions, and individuals. Founded in 2013, the firm is headquartered in Jersey, with offices in France, Stockholm, 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 Stockholm under the ticker CS and the OTCQX under the ticker CNSRF.
About Railnet
Railnet is the foundational layer for the next generation of asset management, built to simplify the complexity of onchain finance into a single, compliant framework. By synchronizing the clocks of fragmented yield sources from DeFi to Real-World Assets, Railnet provides asset managers with a unified experience to aggregate investment opportunities, while maintaining auditable control over risk and regulatory requirements. Railnet serves as the verifiable trust layer for the future of capital allocation.
For more information on CoinShares, please visit: https://coinshares.comCompany | +44 (0)1534 513 100 | support@coinshares.comInvestor Relations | +44 (0)1534 513 100 | support@coinshares.com
For more information on Railnet, please visit: https://railnet.org/
Press Contact
CoinShares
Benoît Pellevoizin
Kiln/Railnet
Marie Siegrist
support@coinshares.com
M Group Strategic Communications
Peter Padovano
Published onMar 18th, 2026
