Onchain vault provider Upshift is partnering with Superstate on the launch of Upshift Clear, a new redemption platform for tokenized real-world assets.
Upshift Clear was launched to address the so-called “settlement gap” that has emerged in the tokenization sector by “applying the logic of traditional bridging capital onchain.”
The platform will provide dedicated USDC vaults to provide instant liquidity to RWA holders when they want to redeem through a kind of loan. When RWA holders redeem the vault “fronts” them (USDC) instantly, moving the settlement process to “T+0 … regardless of market hours or banking holidays,” the announcement reads.
This is opposed to the standard process that involves offchain infrastructure, NAV calculations, custodian processes, and banking wires. Rather, liquidity providers can now front capital to a vault, earning fees from the redemption premium, as the actual underlying redemption from the RWA issuer happens in the background.
“Tokenized assets have proven they can operate natively onchain, but the redemption experience still runs through traditional settlement infrastructure. Upshift Clear gives RWA holders the same instant liquidity properties that made stablecoins composable across DeFi,” Upshift co-founder Aya Kantorovich said in a release.
Upshift Clear is designed as a generalized platform for instant RWA redemption, and at launch will initially support instant redemptions for Superstate’s Crypto Carry Fund (USCC). The fund’s liquidity providers can now deposit USDC to receive clrRWA, a composable “receipt token” that earns fees from instant redemptions.
The platform supports any RWA “with a standard redemption mechanism,” providing Clear vaults with dedicated liquidity pools and receipt tokens.
Earlier this week, Bitwise announced it was taking over as the investment manager of Superstate’s $267 million tokenized USCC fund, which earns yield from a crypto basis trade.
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