The crypto-native fund management company Securitize Fund Services has partnered with the on-chain treasury platform Upshift to bring institutional-grade reporting, auditing, distribution tracking, and performance transparency to on-chain treasuries.
According to an announcement released on Wednesday, Securitize’s fund administration team will “provide independent performance reporting, investor-grade distribution transparency, and comprehensive reconciliation of complex on-chain and protocol-level activities, delivering data usable for auditing and tax purposes.”
According to the announcement, this marks the first time a native on-chain treasury has directly integrated with third-party institutional-grade fund management services. This move comes at a time when the treasury space is undergoing extensive experimentation, with several companies already participating, such as Paxos Labs and Hypercube, which have launched new compliance-focused products. Additionally, Bit and Coinbase have introduced on-chain treasury strategies via the DeFi lending platform Morpho.
Upshift is already a core treasury provider for Solana and Stellar and plans to expand its service offerings. Services using XRP Last year, its total value locked (TVL) peaked at $550 million.
Aya Kantarovich, co-founder of Upshift, said: "Curated treasuries have become one of the primary ways for on-chain capital deployment, but their transparency and reporting infrastructure have not yet reached institutional-grade standards necessary to bring regulated public companies into this shift. Through our partnership with Securitize Fund Services, we provide asset allocators with the independent reporting, visibility, and operational confidence they need to meet compliance requirements, without compromising the treasury’s powerful efficiency and composability."
Onchain vaults are essentially a collective term for carefully curated yield strategies on DeFi protocols, whose scale has grown significantly and are beginning to be used as professional investment tools. The announcement notes that, to date, onchain vaults have largely lacked independent third-party verification and standardized reporting mechanisms, hindering substantial inflows of institutional and regulated capital.
In other words, this is among the first concrete initiatives to natively bring TradFi-grade operational infrastructure into purely on-chain yield products.
Fund administration is a back-office service that independently handles fund accounting, investor records, performance calculation, distributions, reconciliations, and reporting, providing audited and tax-ready data from a trusted third party—rather than the fund manager itself—to investors and regulators.
According to reports, Securitize Fund Services provides services for over 700 funds.
This weekend, the on-chain treasury economy suffered a major blow. The $292 million scam via the LayerZero-powered Kelp DAO bridge enabled attackers to exploit stolen rsETH liquidity to drain treasuries of lending protocols including Aave, SparkLend, Fluid, and Upshift. The incident triggered an emergency freeze of affected markets, including Upshift.
Upshift completed a $10 million Series A round led by Dragonfly in March 2025 and emerged from stealth in April 2025. According to the announcement, the company offers DeFi and CeFi yield generation services across more than 30 blockchains.