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#83: Yield Bearing Stablecoins with Coinshift
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The extra steps needed to tap into DeFi protocols often intimidate web3 companies from putting idle capital to work.
Many of these companies hold large amounts of stablecoins like USDC and USDT, sitting idle and earning no yield.
Since the start of 2025, Coinshift has been redefining how users earn passive income on stable assets through their liquid lending token, csUSDL, backed by U.S. Treasury Bills.
Unlike traditional stablecoins like USDC, where users need to actively lend or stake to generate yield, csUSDL is designed to earn yield natively.
On Episode 83, I spoke with Tarun Gupta, Founder & CEO of Coinshift, to talk about the company’s business model evolution, what this pivot means for the broader stablecoin market, and how csUSDL is positioning itself in an increasingly competitive space.
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Tarun Gupta: https://www.linkedin.com/in/tarun-gupta-1a0973a1/
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Topics covered;
(0:00) Coming Up
(0:48) Episode intro
(2:42) Why pivot & launch a stablecoin
(10:27) Business model for payments
(12:25) Business model of stablecoin issuers
( 17:51) Thanks to our sponsor Octav
(19:32) Coinshift’s new stablecoin, csUSDL
(21:20) Paxos USDL v/s Circle USDC
(23:25) Morpho & Steakhouse Financial
(27:11) UX of minting csUSDL
(28:54) Paxos USDL & regulatory constraints
(31:05) USDC and USDT v/s csUSDL
(34:33) Thanks to our sponsor Request Finance
(36:11) Challenges on csUSDL liquidity
(38:19) Team challenges in 2024
(40:11) Coinshift DAO & SHIFT token
(42:54) Coinshift’s vision
(45:08) Lessons learned as a Founder
(50:36) Reach out to Tarun
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