Trillions in capital sit idle, trapped in systems
that can't move at the speed of opportunity.
The economy of the future won’t run on them.
It needs rails that make capital fluid and composable.
Railnet is powered by STEAM
State Transition Engine for Asset Management
STEAM models capital transitions across protocols and assets:
Standardized state machine for any asset
Synchronous and asynchronous operations supported
Native KYC and compliance logic
Transparent, traceable lifecycle
This is how asset management becomes programmable.
Build on the yield rails.
Railnet launches in 2026. Whether you're structuring strategies, integrating yield products into your protocol, or deploying institutional capital – the rails are open.
FAQ
What is Railnet?
Railnet is the open yield layer for programmable asset management. It provides verifiable infrastructure for asset managers, platforms, and allocators to build, operate, and distribute onchain yield strategies with institutional rigor. At its core, Railnet standardizes how capital moves between yield sources – DeFi lending protocols, tokenized treasuries, private credit – through a financial state machine called STEAM. Every movement of capital follows a traceable lifecycle: transparent, auditable, and visible in real time. In traditional finance, platforms like BlackRock’s Aladdin provide the operational and risk layer that allows asset management to function at scale. Railnet serves a similar role onchain: consolidating fragmented data, surfacing risk, and giving managers a coherent view across complex assets so they can focus on strategy rather than infrastructure. Railnet was originally built by Kiln, the leading institutional digital asset infrastructure provider with over $18B in assets delegated by 2025, serving clients including VanEck, CoinShares, Crypto.com, Ledger, and Trust Wallet.
Who is Railnet for?
Asset managers – from established TradFi firms entering onchain strategies to crypto-native allocators scaling operations. Railnet handles the infrastructure: standardized execution across protocols, real-time books and records, and a risk data room that surfaces exposures most platforms can’t see. Managers focus on strategy; Railnet handles the operational layer. Platforms and allocators – exchanges, wallets, custodians, and fintechs looking to offer yield products compatible with sophisticated compliance requirements. Integrating Railnet allows one to manage risk across every strategy with institutional-grade reporting. Protocols and asset issuers – DeFi protocols, tokenized treasury providers, and real-world asset issuers. Building adapters to the STEAM standard allows any issuer to become accessible to every strategy and distribution channel on Railnet.
What’s the difference between Railnet and a protocol or vault infrastructure?
Most onchain vault systems were designed for a world where every operation is instant: deposit tokens, receive shares, done. But real asset management doesn’t work that way. Staking protocols have cooldown periods, tokenized treasuries require KYC and settle on real-world timelines, and private credit instruments have repayment events that happen entirely offchain. Even within DeFi, withdrawal queues and multi-step strategies introduce asynchronous flows that existing standards were never designed to handle. As trillions of dollars of real-world assets move onchain – bonds, equities, private credit, commodities – the infrastructure needs to faithfully represent their real-world lifecycle: settlement windows, redemption cutoffs, eligibility gates, and timing constraints. STEAM was built for this. It supports both instant DeFi operations and multi-day real-world settlement within the same architecture, maintaining a complete and auditable history of every state transition.
How does Railnet provide transparency and trust?
Railnet’s STEAM standard models each operation as a state transition with a unique identity and full lifecycle tracking. For allocators and regulators, capital deployment can be observed in real time: where assets are, how they’re allocated, and who is responsible for managing them. This is the level of transparency required in TradFi but unavailable across onchain protocols. Beyond transaction-level visibility, Railnet is building a risk data room with portfolio analytics, exposure correlations, and downside scenarios. The goal is to surface risks that aren’t immediately obvious – giving managers, platforms, and their clients a deeper understanding of actual exposures. Railnet is not a protocol or a custodial platform. Deposits move directly to vault smart contracts, plugging into deep DeFi markets. Asset managers have scoped, verifiable permissions – they can rebalance between yield sources but cannot withdraw or redirect funds outside defined actions.
How do I get started?
Railnet is live with selected asset managers on Ethereum Mainnet. Expansion to other EVM-compatible chains is coming later in 2026. A select group of asset managers including CoinShares and are already running strategies powered by Railnet, with several leading managers going live in Q2 2026. Whether you’re an asset manager looking to launch onchain strategies, a platform looking to offer yield products, or a protocol looking to integrate as a yield source – request access through the form on this page or reach out directly. -
