Coinshift Releases Platform Mid-Year Results and Provides Operational Update

Total Payments on Cash Management Platform for DAOs Exceeds $100 million

Platform Highlights

  • Total assets under management $1.6 billion
  • Launch of V2 of the Coinshift platform and integration of 5 new blockchains
  • Supervised $115 million of total payments, an increase of ~255% compared to 2H 2021
  • 2753 new vaults registered on Coinshift
  • Closed one $15 million Series A Funding Round

SHERIDAN, Wyo., August 24, 2022 /PRNewswire/ — Coinshift, a leading cash management and infrastructure platform that enables DAOs and crypto businesses to manage cash reserves, today disclosed the results of its platform half-yearly and provided an operational update for the first half of 2022.

During the first half of 2022, Coinshift saw success across its platform, especially after the conclusion of its $15 million Series A funding round led by Tiger Global. To meet the growing need for comprehensive cash management solutions within the expanding decentralized finance (DeFi) ecosystem, Coinshift has successfully launched V2 of its platform, bringing users additional secure cash management capabilities. , transparent and scalable. V2’s new multi-chain architecture enables unified and seamless access for protocols that need to manage diverse treasuries across a multitude of chains.

Tarun GuptaFounder and CEO of Coinshift, commented on the news: “We are excited to see the growth of our platform and the continued support from our investors and community. Protocols that implement Coinshift’s transparent cash management solutions get the necessary tools to help assure users that their funds are safe and secure. We are constantly working with our customers to provide the solutions needed and look forward to working with them as we continue to develop Coinshift V2 and increase the overall capabilities of the platform.

DAOs are one of the most important constructs in crypto, and they will change every aspect of economics, politics, and probably even your social life for years to come.1 While DAOs have unprecedented potential, certain aspects of DAO tooling, including cash management, remain particularly underdeveloped for these builds to reach their full potential. Coinshift fills this gap by providing the industry’s most sophisticated and intuitive multi-chain cash infrastructure for Web3, allowing users to manage multiple vaults for multiple chains under one organization to streamline operations and enable significant time savings in treasury operations.

By augmenting its extensive suite of management services, Coinshift increased the number of on-chains that integrated its cross-chain infrastructure during 1H 2022. By providing a single, easy-to-use interface, Coinshift’s V2 platform significantly reduces the time developers have to spend managing their cash flow. The addition of these new chains allows developers with assets across multiple networks to seamlessly monitor and manage their vaults, while increasing overall protocol transparency.

1H Platform Updates

  • Led a $15 million Series A funding round led by Tiger Global and joined by Alameda Ventures and Sequoia Capital India
  • Extending cash management services to a total of 7 chains by integrating Arbitrum, Avalanche and Gnosis Chain
  • The number of vaults under management increased by 780% to a total of 3106
  • AUM reached a record level of $1.2 billion in June
  • Help with the distribution of $115 million of total payments, an increase of 255% compared to the previous period
  • Coinshift Cash Management Platform V2 Deployment with Industry Leading Launch Partners

About Coinshift

Coinshift is a leading cash and infrastructure management platform that enables DAOs and crypto businesses to manage cash reserves, general funding, and overall risk. Coinshift provides a single, easy-to-use solution that facilitates and manages cash transactions efficiently. Coinshift is powered by Gnosis Safe, which allows customers to use its core payment features to manage payments, engage in multi-signature collaborative transactions, and save up to 90% on gas fees. We are extending the Gnosis Safe functionality with additional reporting features, on Ethereum and Polygon, saving users time and reducing operational and gas costs.

To learn more about Coinshift, visit: https://coinshift.xyz/

Media Contact
Toby Freeman
M Group Strategic Communications (on behalf of Coinshift)
646.859.5952
[email protected]

1 Crypto Theses for 2022: top trends, people, companies and projects to watch in the crypto landscape, with predictions for 2022; Messari; p.150

SOURCE Coinshift

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