Coinshift (Formerly Multisafe)

Coinshift, formerly known as MultiSafe, was founded in 2021 by Tarun Gupta and is developing a comprehensive onchain business ecosystem. Gupta, who serves as the CEO, has a background in electronics and communication engineering and extensive experience in the cryptocurrency and technology sectors, having co-founded Coinsafe and Vevsa Technologies and worked as a lead infrastructure engineer at Biconomy. His journey began with an interest in the crypto space during the 2017 ICO boom, leading him to work on projects involving crypto exchanges and smart contract infrastructure, which ultimately informed the creation of Coinshift.

The company targets DAOs and crypto-native businesses, providing them with tools for treasury and asset management. Its clients include prominent names such as Gitcoin, Aave, Zapper, Messari, and Uniswap. Coinshift's platform, built on the Gnosis Safe protocol, offers a unified dashboard to manage multiple safes across various blockchains, streamlining operations like mass payouts, financial reporting, and multi-signature transactions. This infrastructure is designed to save time and reduce gas fees for its users. The business model generates revenue through a share of minting fees from its yield-bearing stablecoin, csUSDL, and potential performance fees on its vaults, which are governed by holders of its native token, SHIFT.

Coinshift has secured significant financial backing, raising a $2.5 million seed round in September 2021 and a subsequent $15 million Series A round in May 2022. The Series A was led by Tiger Global and saw participation from Sequoia Capital, ConsenSys, and Polygon, among others, valuing the company at $100 million. The platform's core offerings include a payments module for sending funds, an accounting module for tracking on-chain activity, and an asset management module for deploying capital into yield-generating strategies. A key product is csUSDL, a yield-bearing stablecoin that combines returns from real-world assets like T-Bills with onchain lending, accessible without KYC or lockups. The platform also features csUSDC, a capital-efficient stablecoin for liquidity, and the SHIFT governance token that aligns network participants.

Keywords: treasury management, crypto businesses, DAOs, asset management, onchain payments, multi-signature wallets, decentralized finance, stablecoins, Gnosis Safe, Series A