Upshift hires Securitize for institutional reporting on vaults

Upshift has partnered with Securitize Fund Services to provide independent, audit- and tax-ready performance reporting, investor-level allocation transparency and full reconciliation for its onchain vaults, the companies announced Wednesday.

Under the agreement, Securitize’s fund administration unit will deliver performance reports and reconcile onchain and protocol-level transactions for Upshift curators and depositors. The reporting is intended to be suitable for audits and tax filings and to show allocations at the investor level.

Fund administration includes accounting, investor records, performance calculations, allocation tracking and reconciliations. Those duties produce third-party records for investors and regulators rather than relying solely on a vault operator’s internal reporting. The announcement says Securitize Fund Services provides similar services to more than 700 funds.

The companies described the arrangement as the first time native onchain vaults have directly contracted an institutional third-party fund administrator for these back-office functions.

Upshift operates curated vaults on Solana and Stellar and plans to expand services to support XRP, which reached about $550 million in total value locked last year. The firm raised a $10 million Series A led by Dragonfly in March 2025 and emerged from stealth in April 2025. Upshift provides DeFi and CeFi yield-generation services across more than 30 chains.

Onchain vaults pool capital into curated yield strategies that route funds through multiple DeFi protocols. Firms including Paxos Labs, Tesseract, Bitwise and Coinbase have developed compliance-focused or onchain vault strategies in recent months. Market participants have cited the absence of standardized, third-party reporting as a barrier to allocations from regulated and publicly traded institutions.

Over the weekend, a $292 million exploit of a LayerZero-powered bridge used by Kelp DAO allowed an attacker to use stolen rsETH liquidity to drain vaults on several lending protocols, including Aave, SparkLend, Fluid and Upshift. The incident led to emergency freezes across affected markets, including parts of Upshift’s operations.

Securitize’s involvement will produce standardized, third-party-verified data intended to simplify audits and tax reporting for vault participants and for external investors seeking documentation of allocations and returns.

Aya Kantarovich, co-founder of Upshift, wrote in the announcement that the partnership aims to give institutional allocators the visibility and operational confidence needed to meet reporting obligations while preserving the efficiency and composability of vaults. ‘Curated vaults have become one of the primary ways capital is deployed onchain, but the transparency and reporting infrastructure hasn't fully reached institutional-grade to allow for regulated, publicly traded companies to join that shift,' Kantarovich wrote. ‘By working with Securitize Fund Services, we’re giving allocators the independent reporting, visibility, and operational confidence they need to comply with reporting requirements, without compromising the efficiency and composability that make vaults powerful.'