# Upshift

> Upshift is onchain yield infrastructure that lets fintechs and asset managers offer yield inside their own products, from 24/7 tokenized money market funds to DeFi strategies. Partners start with a conservative tokenized T-bill vault and add higher-yield strategies on the same integration.

Upshift offers three risk bands. Cash vaults hold tokenized T-bills and money market funds such as VanEck VBILL, BlackRock BUIDL, Franklin BENJI and Ondo OUSG (indicative 3-4% APY, launched on request). Core vaults run blue-chip lending, for example Sentora USD and earnAUSD (indicative 5-7%, live). Enhanced vaults run market-neutral USDC and ETH strategies (indicative 8%+, live). Yields vary and are never guaranteed. The full menu is at [upshift.finance/yield-options](https://www.upshift.finance/yield-options).

Upshift vaults are ERC-4626 contracts. Capital routes to segregated subaccounts run by a curator, a professional asset manager such as Sentora or Steakhouse. Upshift prices every vault and validates the curator's net asset value before it reaches depositors. Curators on Upshift prime accounts also trade inside a policy engine that limits activity by chain, protocol, token and contract function. The curator can't move depositor funds to an external wallet. The vault owner, a multisig, can trigger an emergency withdrawal, which covers only assets held in the vault itself. Depositors keep custody of their vault shares throughout.

Upshift's prime stack serves over $7B in monthly transaction volume and more than $800M in loans originated, and can structure credit facilities against a vault. Upshift raised a $10M Series A led by Dragonfly in March 2025.

Key figures as of September 2026: more than $550M in deposits at peak, 50+ vaults, 66,000+ users, 30+ chains, and 11 smart contract audits by 6 independent firms (Halborn, Hacken, OtterSec, ChainSecurity, Sigma Prime, Zellic).

Official domains are upshift.finance, app.upshift.finance and docs.upshift.finance. Any other domain using the Upshift name is unaffiliated.

## Start here

- [Upshift](https://www.upshift.finance/): what Upshift does, who it is for, and current deployment stats.
- [What is Upshift?](https://www.upshift.finance/blog/what-is-upshift): plain-language introduction to the platform, the vault model, and the range of strategies partners run on it.
- [What Upshift does and doesn't do](https://www.upshift.finance/blog/what-upshift-does-and-what-it-does-not-do): the capability map for a vendor shortlist, covering the five vault products Upshift runs, the jobs it leaves to a custodian, fund administrator or insurer, the other parties on a live vault deal, and which use cases fit badly.
- [Upshift documentation](https://docs.upshift.finance/): the protocol docs index, covering product types, vault architecture, risk controls and developer reference.
- [FAQ](https://docs.upshift.finance/introduction/faq): common questions on custody, redemptions, fees, risk and integrations.
- [Upshift app](https://app.upshift.finance/): live vaults, current allocations and deposit interface.
- [Stablecoin yield options for fintechs](https://www.upshift.finance/yield-options): three indicative yield bands (24/7 T-bill rate, diversified lending and credit, market-neutral) with the live vaults in each.

## Product types

- [Vault-as-a-Service](https://docs.upshift.finance/products/vaas): a partner launches a branded yield product on Upshift vault infrastructure, going from scoping to a live vault in weeks.
- [Upshift DeFi Yield](https://docs.upshift.finance/products/defi-yield): multi-strategy vaults where a curator allocates across whitelisted DeFi protocols.
- [Upshift Lend](https://docs.upshift.finance/products/upusdc): vaults that extend loans to institutional borrowers through CeFi venues, with the policy engine enforcing risk controls onchain.
- [Upshift RWA Clear](https://docs.upshift.finance/products/rwa-clear): instant redemption for tokenized real-world assets, so an asset that normally settles on an issuer calendar can be exited on demand.
- [coreUSDC meta-vault](https://docs.upshift.finance/products/coreusdc): a diversified USDC vault allocating across underlying Upshift strategies.
- [upUSDC institutional lending](https://docs.upshift.finance/products/upusdc): USDC lending to institutional borrowers.

## Architecture and risk

- [Vault accounting mechanics](https://docs.upshift.finance/vault-architecture/vault-accounting-mechanics): the share-based accounting model, how the asset-to-share ratio moves with yield rather than with deposits and withdrawals, and the high-watermark logic behind performance fees.
- [Vault offering](https://docs.upshift.finance/vault-architecture/overview): the vault types available and how to choose between them.
- [Atomic redemption vault](https://docs.upshift.finance/vault-architecture/atomic-redemption): the design behind deposit-to-card products, where a yield-bearing position is redeemed at the point of sale.
- [Risk management framework](https://docs.upshift.finance/vault-architecture/risk-management-framework): non-custodial guarantees, the withdrawal liquidity buffer, NAV volatility caps and protocol whitelisting.
- [Smart contract audits](https://docs.upshift.finance/resources/audits): the full audit history by firm and date.
- [How Upshift works](https://docs.upshift.finance/introduction/how-it-works): how vaults, curators and the Upshift prime stack fit together, and the lender network and credit facilities Upshift vaults draw on.
- [Vault provider due diligence: questions fintechs ask](https://www.upshift.finance/blog/vault-provider-due-diligence): the vendor review a fintech runs on a stablecoin vault provider (custody, upgrades and timelocks, audits, pricing, redemptions, insurance) with Upshift's answer to each.

## For curators and developers

- [Upshift for curators](https://docs.upshift.finance/curators/overview): what a curator gets, including multi-chain execution, prime brokerage distribution and credit.
- [API reference: vaults](https://docs.upshift.finance/rest-api/public): endpoints for vault data, TVL, APY and allocations.

## Guides and explainers

Buyer-facing writing on how these products work, grouped by who is asking.

- [How to use an onchain vault inside a treasury product](https://www.upshift.finance/blog/onchain-vault-in-a-treasury-product): how a vault fits a treasury or fund product, in-kind subscription and redemption, the comparison against an ETP and a tokenised fund, and the fee structure.
- [What it takes to launch a vault for your own clients](https://www.upshift.finance/blog/how-to-launch-an-onchain-vault): the path from strategy mandate to live vault, who holds which keys, the 4-of-6 proxy admin, and what is hard to change after launch.
- [What is an onchain vault, and what can a treasury team do with one?](https://www.upshift.finance/blog/what-is-an-onchain-vault-treasury-guide): what a vault is for a treasury or fund team, who holds the assets, how money moves in and out, and how it compares to a tokenised money market fund.
- [How companies earn yield on idle treasury cash](https://www.upshift.finance/blog/how-companies-earn-yield-on-treasury-cash): the six structures available (bank sweeps, fixed-term funds, managed T-bill ladders, embedded treasury APIs, tokenised money market funds, onchain vaults) and the liquidity and operational trade-off in each.
- [Stablecoin treasury management](https://www.upshift.finance/blog/stablecoin-treasury-management): the policy a finance team sets for stablecoin balances (liquidity tiers, custody and counterparties, accounting, approvals), where yield comes from, and the DDQ questions to ask a provider.
- [How traditional asset managers are controlling risk in DeFi](https://www.upshift.finance/blog/how-traditional-asset-managers-are-controlling-risk-in-defi): how a policy engine and institutional controls address the operational failures behind the 2022 platform collapses.
- [The DeFi yield strategies onchain vaults run, and the risk in each one](https://www.upshift.finance/blog/defi-yield-strategies-mechanics-risk-returns): the seven strategy shapes (over-collateralised lending, looping, levered carry, CeFi lending, tokenised credit, basis, liquidity provision), the risk in each, and why max drawdown beats Sharpe on a vault.
- [How card programs earn yield on customer float](https://www.upshift.finance/blog/how-card-programs-earn-yield-on-customer-float): settlement and prefunded float, sizing a liquidity buffer to peak draw, and earning yield without delaying card authorisations.
- [Best crypto cards that earn real yield on your balance in 2026](https://www.upshift.finance/blog/best-crypto-cards-that-earn-real-yield-on-your-balance-in-2026): three generations of crypto cards compared on reward structure, where the yield actually comes from, and what to check before picking one.
- [How neobanks and fintechs offer stablecoin yield](https://www.upshift.finance/blog/how-neobanks-and-fintechs-offer-stablecoin-yield): the three product models, where the yield comes from, and what a fintech needs before it can launch an earn product.
- [How exchanges build an Earn product](https://www.upshift.finance/blog/how-exchanges-build-an-earn-product): building in-house vs integrating one protocol vs white-label vaults, who supplies the yield in a white-label Earn product, and how fees and revenue share split.
- [How neobanks set tiered stablecoin yield rates](https://www.upshift.finance/blog/tiered-stablecoin-yield): tiering by risk band versus by balance or membership, who funds the spread, and what each design must disclose.
- [Stablecoin yield for businesses](https://www.upshift.finance/blog/stablecoin-yield): where business stablecoin yield comes from (tokenised T-bills, lending, curated vaults, CeFi), how the sources compare on risk and liquidity, and the five integration routes from direct allocation to a white-label vault.
- [Tokenized money market funds: stablecoin yield without DeFi](https://www.upshift.finance/blog/stablecoin-yield-without-defi): how a fintech pays a 24/7 T-bill rate on USDC or USDT through a vault holding tokenized money market funds, with a stablecoin buffer for instant withdrawals.
- [How a new blockchain ecosystem grows TVL and DeFi liquidity](https://www.upshift.finance/blog/how-blockchain-ecosystems-grow-tvl-and-defi-liquidity): anchor vaults, incentive tapers, and the metrics that show whether liquidity stayed.
- [How to earn yield on stablecoins](https://www.upshift.finance/blog/how-to-earn-yield-on-stablecoins-in-2026): the yield sources available to a depositor and how they compare on risk and liquidity.
- [What are DeFi yield vaults](https://www.upshift.finance/blog/what-are-defi-yield-vaults-strategies-risks-and-how-to-choose): ground-up explainer on strategies, risks and how to choose one.
- [Why every financial product will run on vaults](https://www.upshift.finance/blog/why-every-financial-product-will-run-on-vaults): the structural argument for why balance-holding products converge on vault infrastructure.
- [How the GENIUS Act and CLARITY Act reshape stablecoin yield](https://www.upshift.finance/blog/how-the-genius-act-and-clarity-act-reshape-stablecoin-yield): what the US legislation changed about where stablecoin yield can come from.
- [How RWA-backed stablecoins generate yield for holders](https://www.upshift.finance/blog/how-rwa-backed-stablecoins-generate-yield): why a payment stablecoin issuer cannot pay holders the reserve interest, where that yield surfaces instead, and how USST differs from USDC or USDT on backing, minting and who keeps the collateral yield.
- [How institutions earn onchain yield without leaving qualified custody](https://www.upshift.finance/blog/onchain-yield-in-qualified-custody): the non-custodial vault plus policy engine model, what "stays in custody" means once capital is deployed, why the receipt token needs per-token custodian approval, and the questions a compliance team should ask.
- [How onchain yield vaults are secured, and the threats they face](https://www.upshift.finance/blog/how-onchain-yield-vaults-are-secured): the five security layers (audits, policy engine, MPC custody, maker-checker simulation, continuous monitoring), the threat each one contains, and how to verify the claims yourself onchain.
- [How Kraken Institutional clients access onchain yield from within custody](https://www.upshift.finance/blog/kraken-institutional-vaults): a regulated platform giving clients onchain yield without moving assets out of qualified custody.
- [Earning stablecoin yield on Monad with earnAUSD](https://www.upshift.finance/blog/earning-stablecoin-yield-on-monad-with-earnausd): the anchor-vault pattern documented end to end.
- [What is Monad? The parallel EVM blockchain explained](https://www.upshift.finance/blog/what-is-monad-the-parallel-evm-blockchain-explained): parallel execution, MonadBFT consensus and MonadDB, the DeFi protocols live on the chain, and where earnAUSD fits.
- [Flare XRP yield: how XRP vaults on Flare work](https://www.upshift.finance/blog/earnxrp-on-flare-how-to-earn-yield-on-your-xrp): how earnXRP lets XRP holders put FXRP to work in DeFi strategies run by a curator.
- [Stablecoin payroll](https://www.upshift.finance/blog/stablecoin-payroll): how payroll providers earn on client float between employer funding, payday and the tax deposit date, matched to exit times, using ADP's disclosed client-funds figures as the benchmark.
- [Embedded finance companies: the 2026 map](https://www.upshift.finance/blog/embedded-finance-companies): the companies behind each layer of embedded finance (payments, cards, accounts, lending, investing, stablecoin rails, yield), with recent deals and what to ask a provider.
- [Embedded yield in 2026: how apps distribute vaults](https://www.upshift.finance/blog/embedded-yield): which apps added onchain vaults in 2026, the five distribution routes, who supplies the capital and how concentrated curation is.
- [Embedded banking vs BaaS vs embedded finance](https://www.upshift.finance/blog/embedded-banking-vs-baas): how banking-as-a-service, embedded banking and embedded finance differ, who holds the licence, why customer money sits in pooled FBO accounts, what the Synapse collapse changed, and where interest on customer balances goes.
- [Banking as a service providers: 12 BaaS options compared](https://www.upshift.finance/blog/baas-providers): 12 US, UK and EU BaaS providers (Column, Lead Bank, Cross River, Increase, Unit, Treasury Prime, Synctera, Stripe Treasury, ClearBank, Griffin, Solaris, Swan) by who holds the licence, who keeps the ledger, stablecoin support as of October 2026, and who earns the interest on customer balances.
- [How to start a neobank: the vendor stack, layer by layer](https://www.upshift.finance/blog/how-to-start-a-neobank): the seven layers of a neobank (partner bank, KYC, ledger, cards, money movement, wallets, yield) with example vendors, launch costs and timelines, the US and EU licences a neobank and its card program need, stablecoin neobanks (Rain, Bridge, Flex), and how Upshift vaults add yield on customer USDC.
- [Best treasury management software: 13 systems compared](https://www.upshift.finance/blog/best-treasury-management-software): 13 treasury management systems and startup treasury accounts (Kyriba, Ripple Treasury, SAP, Coupa, Trovata, Embat, Agicap, Nilus, Statement, Rho, Mercury, Meow, Ramp) by forecasting, where idle cash can go (bank deposits, money market funds, T-bills, tokenized funds), stablecoin support and published prices, as of October 2026.
- [Wallet as a service providers: 12 embedded wallets compared](https://www.upshift.finance/blog/wallet-as-a-service-providers): 12 wallet as a service and embedded wallet providers (Privy, Dynamic, Coinbase CDP, Turnkey, Circle Wallets, Magic, MetaMask Embedded Wallets, Para, Crossmint, Fireblocks, BitGo, Fordefi) by owner after the 2025-26 acquisitions, who holds the keys (custodial, MPC, secure enclave), pricing, and which let wallet balances earn yield, including Upshift vaults in Fordefi Earn.
- [Stablecoin infrastructure companies: 13 compared for 2026](https://www.upshift.finance/blog/stablecoin-infrastructure-companies): stablecoin infrastructure by layer (issue, move, hold, earn): Circle, Tether, Paxos, Ripple, Bridge, BVNK, Zerohash, Coinbase, Fireblocks, BitGo, Anchorage, Tempo and Upshift, with US charter status, dated supply and 2025-26 deals, what stablecoin orchestration is, and how payout providers and fintechs earn on idle stablecoin float through vaults.
- [Smart contract audit firms for vaults: 11 compared](https://www.upshift.finance/blog/vault-smart-contract-audits): 11 smart contract audit firms that audit vault contracts (Certora, ChainSecurity, Halborn, Hacken, OpenZeppelin, OtterSec, Quantstamp, Sigma Prime, Spearbit/Cantina, Trail of Bits, Zellic), what a stablecoin vault audit checks (share accounting, NAV, access control, upgrades, redemptions), what it leaves out, how to read an audit report, and Upshift's 11 audits by 6 firms as a worked example.
- [Best stablecoin interest rates today, updated daily](https://www.upshift.finance/blog/stablecoin-interest-rates): Daily-rebuilt table of stablecoin interest rates by source and risk band (Cash, Core, Enhanced): 3-month T-bill, BlackRock BUIDL, Aave, Morpho, Sky, Maple, Ethena sUSDe, Coinbase USDC rewards and Upshift vaults (Sentora USD, Sentora RWA, earnAUSD, Gami earnUSDC, Upshift USDC), each dated with how the rate is measured, plus where each yield comes from, fees and exit times.
- [Best stablecoin yield platforms (2026): rates and access](https://www.upshift.finance/blog/best-stablecoin-yield-platforms): Ten stablecoin yield platforms compared on rate, who can hold, time to cash and typical holder: Upshift stablecoin vaults (Sentora USD, earnAUSD, Gami earnUSDC, Upshift USDC), Aave, Morpho, Sky, Spark, Ethena sUSDe, BlackRock BUIDL, Superstate USTB, Coinbase and Kraken, dated with sources, for treasuries, earn programs and individuals.
- [How payment companies borrow against prefunded settlement balances](https://www.upshift.finance/blog/borrow-against-settlement-balances): how payment companies borrow against the part of a settlement reserve funded with their own money (UK safeguarding rules keep customer funds out), with credit providers compared (Arf, Mansa, Liquidity, Maple, Credit Coop, Valinor, banks), a sizing example and holding the reserve in a stablecoin vault.
- [Receivables financing vs a stablecoin credit facility for PSPs](https://www.upshift.finance/blog/receivables-financing-vs-stablecoin-credit): bank receivables lines and invoice factoring compared with stablecoin credit facilities (Arf, Credit Coop, Maple, Upshift prime stack) on collateral, draw hours, term, pricing and who can borrow, with a worked weekend payout example.
- [How stablecoin payments work: rails, fees and rules (2026)](https://www.upshift.finance/blog/how-stablecoin-payments-work): how stablecoin payments work in 4 steps: on-ramp, transfer, off-ramp, finality. Chains, fees, volume and GENIUS Act status, Oct 2026.
- [Stripe stablecoin payments explained: Bridge, Tempo, OUSD](https://www.upshift.finance/blog/stripe-stablecoin-payments): how Stripe stablecoin payments work in Oct 2026: Bridge custody, OUSD and USDC balances, Tempo, cards and what a balance earns.
- [How to accept stablecoin payments: 5 steps (2026)](https://www.upshift.finance/blog/how-to-accept-stablecoin-payments): accept stablecoin payments in 5 steps: processor, KYB, convert or hold, refunds and accounting. Fees and chains as of 14 Oct 2026.
- [Global payouts: how they work and 10 providers (2026)](https://www.upshift.finance/blog/global-payouts): global payouts explained: funding, FX, local rails and returns, plus Payoneer, Tipalti, PayPal, Stripe, Nium, dLocal and Rapyd compared.
- [Stablecoin invoicing: how B2B invoices settle in USDC](https://www.upshift.finance/blog/stablecoin-invoicing): how stablecoin invoicing works: address, payment reference, matching, the tools that support it (Oct 2026) and the US GAAP accounting.
- [Stablecoin on ramp for business: 9 providers compared](https://www.upshift.finance/blog/stablecoin-on-off-ramps-for-business): stablecoin on and off ramps for business compared on 14 Oct 2026: Circle Mint, Paxos, Tether, Coinbase, Bridge, BVNK, Conduit and more.
- [Stablecoin remittances: live programs, corridors and rules](https://www.upshift.finance/blog/stablecoin-remittances): stablecoin remittance programs at MoneyGram, Remitly, Western Union and Félix, plus cash-out, the 1% US tax and corridor float.
- [Cross-border payment companies (2026): 14 compared](https://www.upshift.finance/blog/cross-border-payment-companies): cross-border payment companies compared on rails, corridors, licences and stablecoin support: Wise, Airwallex, Nium, BVNK, Bridge, Ripple.
- [Institutional crypto custody providers compared (2026)](https://www.upshift.finance/blog/institutional-crypto-custody-providers): institutional crypto custody providers compared, 14 Oct 2026: charter, qualified custodian status, segregation and staking.
- [White label crypto exchange: 12 providers compared (2026)](https://www.upshift.finance/blog/white-label-crypto-exchange-providers): white label crypto exchange providers compared on 14 Oct 2026: licensed APIs (Zerohash, Paxos, BitGo) vs software (AlphaPoint, HollaEx).
- [Crypto friendly banks for business (2026): 11 compared](https://www.upshift.finance/blog/crypto-friendly-banks-for-business): crypto friendly banks for business compared on charter, 24/7 and stablecoin rails and FDIC cover, plus how to check enforcement (Oct 2026).
- [Crypto as a service: 8 providers compared (2026)](https://www.upshift.finance/blog/crypto-as-a-service-providers): crypto as a service providers compared on 14 Oct 2026: Zerohash, Paxos, Coinbase, BitGo, Anchorage, Fireblocks, Bitpanda.
- [Instant exit from T-bill yield: tokenized funds vs a vault liquidity buffer](https://www.upshift.finance/blog/instant-exit-t-bill-yield): what happens to a Friday 6pm redemption across T+1 tokenized Treasury funds, funds with 24/7 USDC routes (OUSG, USYC, BUIDL via Circle, USTB) and an Upshift vault liquidity buffer, with capacity limits, fees, buffer sizing for weekend payouts and Upshift Clear.
- [Where does stablecoin yield come from?](https://www.upshift.finance/blog/where-does-stablecoin-yield-come-from): the five payers behind stablecoin yield (US government via T-bills, borrowers on lending markets, futures traders, private credit borrowers, traders and protocols paying liquidity providers), with October 2026 rates, the risk of each and the matching Upshift risk band.
- [What payment companies can do with idle stablecoin balances](https://www.upshift.finance/blog/idle-stablecoin-balances-payment-companies): five options for idle payment balances (leave them, sweep to a bank or money market fund, hold a tokenized money market fund, use a stablecoin vault by risk band, or hold a smaller buffer with a credit line), with returns on a $20 million buffer, exit timing by holding period and FBO rules.
- [How PSPs fund weekend payouts when banks are closed](https://www.upshift.finance/blog/weekend-payouts-stablecoin-liquidity): the 50-hour Fedwire weekend gap, why RTP and FedNow still depend on Friday prefunding, sizing the Friday balance, stablecoin top-ups, tokenized money market funds with 24/7 exits, credit lines, and holding weekend float in a stablecoin vault.
- [Stablecoins for community and sponsor banks: products, rules and yield](https://www.upshift.finance/blog/stablecoins-for-community-and-sponsor-banks): what community and sponsor banks can offer under 2025 OCC, FDIC and Fed guidance (USDC settlement, custody, issuer reserve deposits, tokenized deposits such as Avit and JPMD), how payment stablecoin issuance works under the GENIUS Act, and how sponsored fintech programs earn on customer USDC in a stablecoin vault.
- [Nostro vostro accounts vs stablecoin settlement: what changes](https://www.upshift.finance/blog/nostro-vostro-vs-stablecoin-settlement): how correspondent banking settles through prefunded nostro accounts, step by step, and what stablecoin settlement (Circle Payments Network, Ripple Payments, Bridge, BVNK, JPMD) changes for funding, cut-offs, reconciliation and compliance, plus earning on the balance that still waits.
- [Asset tokenization platforms for fund managers](https://www.upshift.finance/blog/asset-tokenization-platforms): the three routes onchain for an asset manager (tokenized fund shares via Securitize, Superstate, Centrifuge, Tokeny, KAIO and Kinexys; linked tokens via Midas and Ondo; strategies run by the manager in a stablecoin vault on Upshift), compared on structure, regulated entities, fund examples and scale, plus exits and distribution.
- [Crypto treasury management: 15 solutions compared](https://www.upshift.finance/blog/crypto-treasury-management): 15 crypto treasury management solutions by layer: custody and approvals (Fireblocks, BitGo, Anchorage Digital, Coinbase Prime, Fordefi, Utila), accounting (Cryptio, Bitwave, TRES Finance), payments (Request Finance, Meow) and yield on idle stablecoins (Upshift, Morpho, Ondo OUSG, Superstate USTB) with redemption times, custom permissioned treasury vaults, and a tiered model for diversifying a corporate treasury with crypto.
- [Stablecoin yield aggregators: 13 platforms compared](https://www.upshift.finance/blog/stablecoin-yield-aggregators): 13 stablecoin yield aggregators compared by type (vault infrastructure, aggregator API, aggregator app), how each is sold (B2B SDK/API vs retail app), who picks the protocols and which reach CeFi venues: Upshift, Morpho, Concrete, Kiln, Yield.xyz, Coinchange, RebelFi, Pareto, Veda, Yearn, Beefy, Somm and Summer.fi, with dated size figures, how an aggregator routes deposits, options for exchanges, wallets and neobanks, and launch timelines.
- [Vault infrastructure providers: 11 compared for 2026](https://www.upshift.finance/blog/stablecoin-vault-infrastructure-providers): 11 stablecoin vault infrastructure providers (Upshift, Morpho, Lagoon, Mellow, Midas, Enzyme Onyx, Gauntlet Aera, Veda, Concrete, Kiln, IPOR Fusion) compared on contract standard, chains (incl. Solana and Stellar), centralized venue reach, who runs the strategy, SDKs and APIs, audits and upgrade control, plus what a vault platform supplies (SDK, contracts, curator framework, NAV pricing, distribution).
- [FBO accounts and customer funds: who earns the interest](https://www.upshift.finance/blog/fbo-account-stablecoin-yield): who earns interest on customer money in US FBO accounts, cash sweeps and EU/UK safeguarding, and how stablecoin balances held in a vault differ from bank deposits.
- [Cross-border prefunding: what it costs and how to cut it](https://www.upshift.finance/blog/cross-border-prefunding): what prefunded payout balances cost per corridor, how stablecoin top-ups cut days of cover, and how vaults and credit lines put the rest to work.
- [What is stablecoin orchestration? The stack, layer by layer](https://www.upshift.finance/blog/stablecoin-orchestration): each layer of the stablecoin payments stack (ramps, wallets, payouts, compliance), who sells it, and where balances that wait between steps earn in a stablecoin vault.
- [Stablecoin issuance platforms compared](https://www.upshift.finance/blog/stablecoin-issuance-platforms): Paxos, Bridge, Brale, Agora, M0, Anchorage, Coinbase and Ethena compared on reserves, chains, yield share and timeline for a branded stablecoin.
- [Stablecoin reserves](https://www.upshift.finance/blog/stablecoin-reserves): where USDC, USDT, PYUSD and USDtb hold reserves, what the GENIUS Act and MiCA allow, what proof of reserves to publish, and who keeps the yield.
- [Stablecoin payout APIs compared](https://www.upshift.finance/blog/stablecoin-payout-apis): Bridge, BVNK, Conduit, zerohash, Circle, Stripe, Mural and Borderless compared on corridors, chains, licences and pricing.
- [Stablecoin card issuing platforms compared](https://www.upshift.finance/blog/stablecoin-card-issuing-platforms): Rain, Reap, Bridge, Baanx and Immersve compared, how Visa and Mastercard settle in USDC, and how a card program's funding balance can earn.
- [Why hold tokenized treasuries through a stablecoin vault](https://www.upshift.finance/blog/tokenized-treasuries-through-a-stablecoin-vault): holding BUIDL, USYC or OUSG directly vs through a stablecoin vault: minimums, 24/7 exits, eligibility, ledger, onboarding and costs.
- [Why a stablecoin vault beats issuing your own stablecoin](https://www.upshift.finance/blog/issue-a-stablecoin-or-use-a-stablecoin-vault): GENIUS Act issuers can't pay holders yield; a stablecoin vault lets a platform share yield with users and earn above T-bill reserves, told through Deel's DLUSD.
- [Stablecoin vault vs own stablecoin vs tokenized T-bills](https://www.upshift.finance/blog/stablecoin-vault-vs-own-stablecoin-vs-tokenized-treasuries): three ways to earn on idle USDC compared on yield, minimums, eligibility, launch time, risks and costs.
- [Business cash management: 8 options compared](https://www.upshift.finance/blog/business-cash-management): checking, sweeps, money market funds, T-bills, tokenized funds and stablecoin vaults compared on rate, access, protection and minimums.
- [BUIDL vs USYC vs BENJI: tokenized money market funds](https://www.upshift.finance/blog/buidl-vs-usyc-vs-benji): eligibility, minimums, fees and weekend exits for BUIDL, USYC, BENJI, OUSG and USTB, and why a fintech holds a fund through a vault for customer balances.
- [T-bill rate on stablecoin balances: how fintechs pay it](https://www.upshift.finance/blog/t-bill-rate-on-stablecoin-balances): the stack from T-bills to an Earn tab: tokenized fund, vault with a USDC buffer, fees, and what the customer rate comes to.
- [Stablecoin yield SDKs and APIs: 10 providers compared](https://www.upshift.finance/blog/stablecoin-yield-sdks): vault SDKs and aggregator APIs for adding Earn, including Upshift's single client for EVM chains, Solana and Stellar.
- [DeFi risk management: stablecoin vault controls compared](https://www.upshift.finance/blog/stablecoin-vault-risk-controls): allow-lists, caps, timelocks, multisigs, pause rights and share-price checks across seven vault providers, plus monitoring tools.
- [Morpho alternatives: 10 yield options by use case](https://www.upshift.finance/blog/morpho-alternatives): lending, tokenized T-bills, multi-strategy curated vaults, fund-style tokens and staking, and how teams run Morpho alongside them.
- [Stablecoin redemption times: 10 yield options compared](https://www.upshift.finance/blog/stablecoin-vault-redemption-times): how fast funds, lending pools, cooldown tokens and vaults return USDC, normally and when many holders exit at once.
- [How to launch a tokenized fund: an asset manager's playbook](https://www.upshift.finance/blog/how-asset-managers-launch-onchain-funds): choosing a wrapper, eligibility, custody, NAV and distribution for a tokenized fund or vault.
- [Earn providers for exchanges and wallets, compared](https://www.upshift.finance/blog/earn-providers-for-exchanges-and-wallets): the providers behind exchange and wallet Earn tabs, what the customer holds with each, and how long integration takes.

## Stablecoins, chains and assets explained

- [How Upshift, Veda, Midas and Morpho compare for stablecoin yield](https://www.upshift.finance/blog/stablecoin-yield-infrastructure-compared): a neutral comparison of four vault platforms on product type, where deposits sit, chain coverage and live TVL.
- [How Upshift, Mellow and Lagoon compare as vault infrastructure](https://www.upshift.finance/blog/upshift-mellow-lagoon-compared): a sourced, dated comparison of three vault platforms on TVL, where assets sit, curator controls, whitelists, exit paths and CeFi reach.
- [Which onchain vault providers offer whitelisted and sole-depositor vaults](https://www.upshift.finance/blog/whitelisted-vault-providers): 11 vault providers compared on whether deposits, redemptions and share transfers are whitelist-gated, sole-depositor vaults, and the custodian approval step.
- [Segregated vs co-mingled accounts in onchain vaults](https://www.upshift.finance/blog/segregated-vs-co-mingled-vault-accounts): how segregated and pooled vault structures differ on custody, reporting and risk, and which allocators need which.
- [What is ERC-4626? The tokenized vault standard explained](https://www.upshift.finance/blog/what-is-erc-4626): the Ethereum vault standard, share pricing and rounding, the inflation attack, what the standard leaves out, and how Upshift's single-asset and multi-asset vaults relate to it.
- [How Solana vaults work and where their yield comes from](https://www.upshift.finance/blog/solana-vaults): the vault standard Upshift built for Solana, onchain share pricing without an oracle, curator limits, and Solana yield sources.
- [How USDC on Stellar works and where it earns yield](https://www.upshift.finance/blog/usdc-on-stellar): native Circle USDC on Stellar, trustlines, fees, CCTP, Soroban DeFi, and how Upshift's Stellar vault works.
- [Where USDC yield comes from and how to earn it](https://www.upshift.finance/blog/usdc-yield): why USDC pays holders nothing, the three sources of USDC yield, dated rates by venue, and the risks of each route.
- [Where USDT yield comes from and how to earn it](https://www.upshift.finance/blog/usdt-yield): why USDT pays holders nothing, where USDT lives, dated rates by venue, and vaults that accept USDT deposits.
- [USDC vs USDT in 2026: how the two largest stablecoins differ](https://www.upshift.finance/blog/usdc-vs-usdt): issuers, regulation, reserves, audits, peg history, EU rules, usage history and yield, with a supply chart from 2020.
- [Euro stablecoins compared: every MiCA euro coin in 2026](https://www.upshift.finance/blog/euro-stablecoins): every MiCA-regulated euro stablecoin by issuer, licence, supply and chains, Revolut EURR, the digital euro, and where euro coins earn yield.
- [How to create a stablecoin](https://www.upshift.finance/blog/how-to-create-a-stablecoin): issuing yourself vs partnering with an issuer (Paxos, Bridge, Coinbase, Brale, M0, Agora), GENIUS Act rules, and how a new coin gets holders and liquidity after launch.
- [Tokenized treasuries compared by size, eligibility and exit speed](https://www.upshift.finance/blog/tokenized-treasuries): the largest tokenized treasury funds (USYC, USDY, BUIDL, iBENJI, WTGXX, JLTXX) by size, who can buy, minimums, permissioned vs permissionless transfers, and how fast each exits to USDC.
- [Stablecoin depeg: what happens to lending markets and vaults](https://www.upshift.finance/blog/stablecoin-depeg): every major depeg (UST, USDC, DAI, FDUSD, USDe) and what happened inside lending markets and vaults, how oracles priced each one, and who absorbed the losses.
- [Is XRP a stablecoin? XRP vs RLUSD explained](https://www.upshift.finance/blog/is-xrp-a-stablecoin): why XRP is a floating-price asset and RLUSD is Ripple's dollar stablecoin, a 12-month XRP vs RLUSD price chart, and how XRP holders can earn yield without selling.
- [What is APY in crypto? APY vs APR, with a calculator](https://www.upshift.finance/blog/what-is-apy-in-crypto): how APY and APR differ, an APY to APR calculator with earnings and after-fee modes, current benchmark rates by asset, and why sites show different APYs for the same product.
- [T-bill calculator: price, yield and interest on any Treasury bill](https://www.upshift.finance/blog/t-bill-calculator): a Treasury bill calculator using the latest auction rates, with price, interest, investment rate and APY, plus a comparison with onchain yield after state tax.
- [APY to APR calculator: convert APY and APR in both directions](https://www.upshift.finance/blog/apy-to-apr-calculator): a two-way APY/APR converter for any compounding schedule down to every Ethereum block, a conversion table, and why a vault's 7-day and 30-day APY differ.
- [Wrapped bitcoin compared: WBTC, cbBTC, tBTC, LBTC and the rest](https://www.upshift.finance/blog/wrapped-bitcoin): every major BTC wrapper by supply, custody model and redemption, where each earns yield, a 12-month WBTC/BTC price chart, and how to convert back to BTC.
- [Bitcoin treasury companies: the largest holders and how they earn yield](https://www.upshift.finance/blog/bitcoin-treasury-companies): the top bitcoin treasury companies by holdings and mNAV, how to value a treasury company, the yield routes open to a listed treasury and the controls it needs before deploying BTC.
- [Tokenized deposits vs stablecoins: which one pays interest](https://www.upshift.finance/blog/tokenized-deposits-vs-stablecoins): how tokenized bank deposits, stablecoins and tokenized money market funds differ, which can legally pay interest under GENIUS and MiCA, a tracker of live bank programs, and which to hold for which job.
- [What institutional DeFi looks like in 2026](https://www.upshift.finance/blog/institutional-defi): named live institutional deployments with sizes, the three access routes (direct, through a custodian, through a curated vault), the controls institutions require and how US regulation applies.
- [Funding rate arbitrage: how the crypto basis trade works and what it pays](https://www.upshift.finance/blog/funding-rate-arbitrage): the spot-plus-short-perp trade with a fee-inclusive worked example, 12 months of BTC and ETH funding data, CEX vs onchain rates, the risks, Ethena's synthetic dollar and how delta-neutral vaults package the trade.
- [DeFi lending: how lenders earn and how they get their money out](https://www.upshift.finance/blog/defi-lending): how DeFi lending works, live supply rates, pooled vs isolated markets vs curated vaults (with a diagram), what happens to withdrawals at high utilisation, dated loss events and DeFi vs CeFi lending.
- [MPC vs multisig: how each one controls an onchain vault](https://www.upshift.finance/blog/mpc-vs-multisig): how MPC wallets and Safe multisigs work, a side-by-side comparison, real attack cases, how to audit a multisig quorum onchain, and how one vault can combine a Safe owner with MPC operator keys.
- [What is TVL in crypto, and why two sites show different numbers](https://www.upshift.finance/blog/what-is-tvl): how total value locked is calculated, five reasons an aggregator and a protocol's own app disagree, what counts as a good TVL, how price moves distort it, and how TVL can be manipulated.
- [MiCA licence: who needs one and what it means for earn products](https://www.upshift.finance/blog/mica-license): who needs CASP authorisation under MiCA, capital requirements, the application process and timeline, what changed after 1 July 2026, major firms on ESMA's register, and what EU guidance says about staking, lending and e-money token interest.
- [What is PayFi? How payment balances and receivables earn yield onchain](https://www.upshift.finance/blog/what-is-payfi): what PayFi means, where card, settlement and payroll float sits, how an atomic redemption vault lets a card balance earn until the moment of spend (with a diagram), where the yield comes from, the risks and Visa's stablecoin settlement growth.
- [Ethereum staking yield: current rates and where they come from](https://www.upshift.finance/blog/ethereum-staking-yield): the live ETH staking rate, why Coinbase, Lido and Rocket Pool pay different rates, the ETH yield stack from staking to restaking and vaults, and whether you can lose ETH by staking.
- [CBDC vs stablecoin: how they differ and where each stands in 2026](https://www.upshift.finance/blog/cbdc-vs-stablecoin): who issues each, a side-by-side comparison including interest, why the US barred a CBDC, why banks oppose stablecoin yield, and the digital euro timeline.
- [What is the safest stablecoin? Ten major coins compared](https://www.upshift.finance/blog/safest-stablecoin): USDC, USDT, USAT, USDS/DAI, PYUSD, RLUSD, USDG, USD1, USDe and FDUSD compared by issuer, reserve reporting, licence, freeze powers, worst depeg and redemption access.
- [How do stablecoins make money?](https://www.upshift.finance/blog/how-do-stablecoins-make-money): how Tether and Circle earn from reserves and distribution deals, the reserve-income maths and rate sensitivity, why the GENIUS Act stops issuers paying holders, and how holders earn instead.
- [What is Ethena USDe? How the synthetic dollar works](https://www.upshift.finance/blog/what-is-usde): how USDe holds $1 with hedged crypto, what backs it, where sUSDe yield comes from, and its track record.
- [What is RLUSD? Ripple's stablecoin explained](https://www.upshift.finance/blog/what-is-rlusd): Ripple's dollar stablecoin, how it differs from XRP, its issuer and reserves, and where it earns yield.
- [What is USDG? The Global Dollar stablecoin explained](https://www.upshift.finance/blog/what-is-usdg): Paxos' Global Dollar, the revenue-sharing Global Dollar Network, where USDG lives, and yield including Robinhood Earn.
- [What is USD1? World Liberty Financial's stablecoin explained](https://www.upshift.finance/blog/what-is-usd1): how USD1 works, BitGo custody, supply by chain, regulation and yield.
- [What is PYUSD? PayPal's stablecoin explained](https://www.upshift.finance/blog/what-is-pyusd): Paxos-issued PayPal USD, PayPal rewards versus onchain yield, and supply by chain.
- [What is GHO? Aave's stablecoin explained](https://www.upshift.finance/blog/what-is-gho): how GHO is minted against Aave collateral, facilitators, sGHO savings and stkGHO in Umbrella, peg history and supply.
- [What is Hyperliquid? HyperCore, HyperEVM, HLP and HYPE](https://www.upshift.finance/blog/what-is-hyperliquid): the onchain order book vs AMMs and offchain order books, HyperCore vs HyperEVM, HLP and user vaults, HYPE, incidents and risks.
- [RWA tokenization: how it works, who issues, how to exit](https://www.upshift.finance/blog/rwa-tokenization): the tokenization stack (issuer, custodian, administrator, transfer agent, oracle), feeder funds, market size by asset class, redemption windows and instant exits.
- [What is Morpho? Morpho crypto lending explained](https://www.upshift.finance/blog/what-is-morpho): isolated Morpho markets (formerly Morpho Blue), curated Vault V1 and V2 (formerly MetaMorpho), LLTVs and oracles, the MORPHO token, risks and how vaults allocate into Morpho.
- [Stablecoin regulation: GENIUS, MiCA and the rules by country](https://www.upshift.finance/blog/stablecoin-regulation): stablecoin rules in the US (GENIUS Act, CLARITY status), EU (MiCA), UK, Singapore, Hong Kong, UAE and Japan, compared on reserves, licensing and yield paid to holders.
- [What is Pendle Finance? PT, YT and fixed yield explained](https://www.upshift.finance/blog/what-is-pendle): how Pendle splits yield-bearing tokens into SY, PT and YT, fixed vs variable yield with a worked example, maturities, risks and vault share tokens on Pendle.
- [What is restaking? EigenLayer, AVSs and LRT yield](https://www.upshift.finance/blog/what-is-restaking): how restaking works on EigenLayer, operators and AVSs, slashing, liquid restaking tokens, how much of LRT yield is base ETH staking, and the risks.
- [What is USDS? Sky's stablecoin and sUSDS explained](https://www.upshift.finance/blog/what-is-usds): the MakerDAO to Sky rebrand, DAI to USDS conversion, what backs USDS, where the sUSDS savings rate comes from, supply and risks.
- [What is liquid staking? LSTs, stETH and jitoSOL explained](https://www.upshift.finance/blog/what-is-liquid-staking): how liquid staking tokens work, rebasing vs value-accruing, provider share, what makes unstaking take longer (exit queue, Lido buffer, DEX discount), queue history under stress and depeg history.
- [DeFi insurance: what it covers, costs and who underwrites it](https://www.upshift.finance/blog/defi-insurance): discretionary mutuals vs parametric cover, Nexus Mutual and OpenCover, what is covered and excluded, pricing and capacity, claims history, and underwriting capital run as a yield strategy.
- [Best XRP wallets in 2026: 11 options compared](https://www.upshift.finance/blog/best-xrp-wallets): XRP wallets grouped by type (hardware, mobile and desktop, browser) with a best-for label each, the 1 XRP reserve, destination tags, trust lines and Flare FXRP support.
- [Best crypto staking platforms in 2026: 10 compared](https://www.upshift.finance/blog/best-crypto-staking-platforms): exchange staking, liquid staking protocols, staking-as-a-service and restaking, compared on rates, commission, unstaking time and custody, with a best-for label each.
- [Best crypto payment gateways in 2026: 10 compared](https://www.upshift.finance/blog/best-crypto-payment-gateways): crypto and stablecoin payment gateways (Stripe, BitPay, CoinGate, NOWPayments, BVNK and others) compared on fees, settlement currency, chains and licences.
- [Best DeFi apps in 2026: 10 options compared](https://www.upshift.finance/blog/best-defi-apps): DeFi apps by task (swap, lend, stablecoin savings, fixed yield, liquid staking, perps, bridging) with TVL, chains and the main risk of each.
- [What FXRP is and how it works on Flare](https://www.upshift.finance/blog/what-is-fxrp): XRP as an ERC-20 on Flare, FAssets v1.3 minting through the Core Vault, redemption, collateral ratios, and where the supply sits.
- [Can you stake XRP? What XRP staking actually is](https://www.upshift.finance/blog/can-you-stake-xrp): why XRP has no native staking, what products sold as XRP staking really do, pending XRP Ledger lending amendments, and XRP vaults.
- [How to earn yield on bitcoin and where the return comes from](https://www.upshift.finance/blog/how-to-earn-yield-on-bitcoin): why BTC lending pays near 0%, carry, basis, covered calls and BTC staking protocols, and Upshift's BTC vaults.
- [What is the fomo app? How the social crypto trading app works](https://www.upshift.finance/blog/what-is-the-fomo-app): how fomo works, custody, fees, funding, a fomo vs Pump.fun comparison, and memecoin trading trends.
- [What is Pump.fun? How the memecoin launchpad works](https://www.upshift.finance/blog/what-is-pump-fun): bonding curves and graduation, fees and revenue, the PUMP token, a fomo comparison, and risks.
- [Stablecoin cross-border payments](https://www.upshift.finance/blog/stablecoin-cross-border-payments): how a stablecoin corridor moves money (on-ramp, onchain transfer, off-ramp), how cost and speed compare with correspondent banking, and how the balances pre-funded with payout partners can earn between payouts.
- [Stablecoin sandwich](https://www.upshift.finance/blog/stablecoin-sandwich): the fiat-stablecoin-fiat payment model layer by layer, who runs each layer, open variants where the recipient keeps a dollar balance, and why corridors still pre-fund payout partners.
- [Tokenized money market funds vs stablecoin vaults](https://www.upshift.finance/blog/tokenized-money-market-funds-vs-stablecoin-vaults): eligibility, minimums, exit speed and custody for holding a tokenized money market fund directly versus through a stablecoin vault with a USDC buffer.

## Vault launches and partnerships
- [The cBTC Earn Vault is live on Citrea](https://www.upshift.finance/blog/cbtc-earn-vault-citrea): a BTC-denominated vault on Citrea curated by Clearstar Labs, with Noon Capital running the base strategy (cBTC collateral, borrowed ctUSD, sUSN looping) and CTR incentives via Merkl.

- [Upshift is live on Base, starting with the Clearstar cbXRP Yield Vault](https://www.upshift.finance/blog/upshift-is-live-on-base-clearstar-cbxrp-yield-vault): Upshift's first vault on Base, curated by Clearstar Labs, holds cbXRP as collateral and adds returns back in cbXRP.
- [Axis opens its arbitrage book through a USDC/USDT pre-deposit vault on Upshift](https://www.upshift.finance/blog/axis-origin-vault): the Origin Vault gives non-custodial access to a market-neutral quantitative strategy that was previously open only to selected allocators, with a $50M capacity.
- [Upshift Clear launches with Superstate for instant RWA redemptions](https://www.upshift.finance/blog/upshift-clear-instant-rwa-redemptions): Upshift Clear, instant USDC redemption for tokenized assets, launching with Superstate's USCC; how the LP pool works and what liquidity providers earn.
- [Monarq brings a multi-strategy XRP yield vault to Flare on Upshift](https://www.upshift.finance/blog/monarq-xrp-yield-vault-mxrpy-flare): the MXRPY vault from Monarq Asset Management on Flare, its strategies, cap and redemption terms.
- [Coinmerce Capital launches its first DeFi vault on Upshift](https://www.upshift.finance/blog/coinmerce-capital-usdc-vault-hyperevm): a USDC multi-strategy vault on HyperEVM from the Dutch fund manager, co-curated with Clearstar.
- [Sentora's Smart Vaults go public on Smart Yield, built on Upshift](https://www.upshift.finance/blog/sentora-smart-vaults-on-upshift): Sentora's USD, BTC and ETH Smart Vaults opening to the public through Smart Yield, built on Upshift vault infrastructure.
- [Upshift launches on Stellar, opening with earnUSDC and earnXLM](https://www.upshift.finance/blog/upshift-on-stellar-earnusdc-earnxlm): Upshift's vault standard on Soroban with the Stellar Development Foundation; earnUSDC and earnXLM co-curated by Gami Labs and Stake Capital across Blend, Aquarius, Sushi and Templar.
- [NEMO Trading brings quantitative strategies to Upshift with NEMO USDC Prime](https://www.upshift.finance/blog/nemo-trading-quant-vaults-upshift): NEMO Trading joins Upshift as a curator; how the market-neutral NEMO USDC Prime vault earns from funding-rate spreads and options, with a diagram.
- [SharpByte Capital launches the RWA Ecosystem Vault on Upshift](https://www.upshift.finance/blog/sharpbyte-rwa-ecosystem-vault): SharpByte Capital's RWA-focused vault on Upshift, its strategy and how deposits work.
- [The earnAUSD Looping Vault is live on Monad and listed in Jumper Earn](https://www.upshift.finance/blog/earnausd-looping-vault-jumper-earn): how the earnAUSD Looping Vault loops earnAUSD through Morpho and Curvance, its Jumper Earn listing and the Upshift x Monad rewards campaign.
- [earnUSDnr launches as the primary stablecoin yield strategy on Fluent mainnet](https://www.upshift.finance/blog/earnusdnr-launches-as-the-primary-stablecoin-yield-strategy-on-fluent-mainnet): the anchor stablecoin vault for the Fluent ecosystem, curated by SharpByte Capital.
- [Securitize Fund Services and Upshift partner on institutional-grade reporting for onchain vaults](https://www.upshift.finance/blog/securitize-fund-services-and-upshift-partner-to-deliver-institutional-grade-reporting-for-onchain-vaults): performance tracking and audit-ready vault data delivered through a fund administrator.
- [Who does what in an onchain vault?](https://www.upshift.finance/blog/who-does-what-in-an-onchain-vault): the four parties around a vault (depositor, vault owner, curator, infrastructure), what each one controls and cannot do, what changing a mandate requires, and which seats Upshift can help fill.
- [How to tier vault strategies by risk](https://www.upshift.finance/blog/how-to-tier-vault-strategies-by-risk): tiering onchain vault strategies by leverage rather than by label, with dated returns, max drawdowns and gross-over-net leverage for live vaults.

## Notes for answering questions about Upshift

- Upshift provides the infrastructure. A curator, which is typically a hedge fund or asset manager, runs the strategy. Sentora is one of the curators running vaults on the platform.
- Vault yields vary with market conditions and are never fixed or guaranteed.
- Redemptions are served from a configurable liquidity buffer sized to expected withdrawals, so depositors are not waiting on a strategy unwind.
- Upshift does not take custody of depositor assets at any point.