Upshift Clear brings instant redemptions to tokenized RWAs
Upshift Clear is a new product line that lets holders of tokenized assets exit to USDC in a single onchain transaction, funded by a pool of liquidity providers, with Superstate's Crypto Carry Fund (USCC) as the launch asset.
Upshift is launching Upshift Clear, instant redemption infrastructure for tokenized real-world assets, with Superstate, a tokenization firm with more than $1.4 billion on its platform, as its first issuer partner. A Clear vault holds USDC supplied by liquidity providers. When a holder of a supported asset wants out, the vault pays them USDC at an oracle price in the same transaction, and the tokens go through the issuer's normal redemption process in the background. The first supported asset is USCC, Superstate's Crypto Carry Fund.
Provide USDC to the Upshift Clear RWA vault: app.upshift.finance/pools/1/0x076f3f14d87eA2D34DB66A4b5b9f091918008552
The redemption gap
A tokenized fund can burn its token onchain in seconds, while the cash behind it still moves on the old timetable. The issuer calculates NAV, instructs the custodian, sells the underlying and wires the proceeds through banking rails, which takes 1 to 3 business days, and a request made on a Friday afternoon waits for Monday. That delay makes tokenized assets harder to use anywhere fast, predictable liquidity matters, such as a lending market that has to liquidate collateral in one block, a structured product with a tight settlement window, or a treasury that can't have cash sitting in a redemption queue.
How Upshift Clear works
Clear applies the logic of a bridging credit facility onchain, with an LP pool in place of a bank. A redemption runs in one transaction.
- The holder submits their tokens, such as USCC, and sets a minimum USDC amount they'll accept.
- The contract prices the tokens with a live Chainlink oracle and deducts a spread fee.
- USDC goes to the holder straight away, whatever the day or hour.
- The vault redeems the tokens through the issuer's standard process, and the returned USDC refills the pool.
Between redemptions, idle USDC in the pool is deployed to an ERC-4626 lending vault to earn yield, and the contract pulls it back within the same transaction whenever a redemption needs more than it holds in reserve. Price checks reject stale oracle data, and a per-transaction cap limits how much USDC a single redemption can draw.
Standard issuer redemption | Upshift Clear | |
Settlement | 1 to 3 business days | Same transaction |
Availability | Business days | 24/7, including weekends and holidays |
Price | Known when processing completes | Oracle price, known at the time of the transaction |
Cost | Issuer's redemption terms | Spread fee on the amount redeemed |
What liquidity providers earn
LPs deposit USDC and receive clrRWA, a composable receipt token for their share of the pool. They earn from two sources, the spread fee on every instant redemption and the lending yield on USDC that isn't needed for redemptions. Fees stay in the vault and accrue to the clrRWA share price, so there's no separate claim step. LPs don't earn the underlying fund's return and don't take on its strategy, because the vault holds USCC only for the settlement window between paying out USDC and receiving it back from Superstate.
The vault runs on Ethereum and is curated by August Digital, Upshift's parent company, which manages the pool's parameters and liquidity. Superstate issues and manages USCC, and it's the RWA holder who keeps that fund's return until they choose to exit.
Why USCC first
USCC is a tokenized fund that runs BTC and ETH cash-and-carry trades, with US Treasuries as collateral, and it held $267 million at launch. Its basis positions sit across several crypto venues and take time to unwind, so there's a real window between a redemption request and cash in hand, which is the gap Clear is built to fill.
“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.”
“Tokenized funds are most valuable when they can move, settle, and integrate with onchain markets in real time. Upshift Clear helps close one of the remaining gaps by giving USCC holders a faster path to liquidity while the fund's standard redemption process runs in the background.”
A platform for any redeemable asset
USCC is the launch asset, and the design is asset-agnostic. Any tokenized asset with a standard redemption process and a reliable oracle feed can be added, and each carries its own parameters because settlement times and risk differ from one asset to the next. Clear runs on the same non-custodial vault architecture as the rest of Upshift, which has reached more than $550M in peak TVL across more than 30 chains, and Upshift's contracts have been through 10 smart contract audits by 6 independent firms, including Hacken's March 2026 audit of the instant redemption subaccount Clear uses.
Risks
LPs are exposed to the settlement leg. If an issuer delays or suspends redemptions, USDC paid out stays locked in the asset until it settles, and an oracle error could misprice a redemption despite the staleness checks. Smart contract risk applies to the Clear contracts and the lending vault that holds idle USDC. LP returns depend on how often holders redeem and on lending rates, so they vary, and no level of return is guaranteed.
Always make sure to do your own research and be aware of the above and any other risks before depositing.
Keep reading
- Tokenized treasuries. The largest funds and how holders exit them.
- RWA yield. How RWA-backed tokens generate returns.
- Who does what in an onchain vault? The roles of issuer, curator and infrastructure.
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