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Ermin Sharich is the co-founder and CEO of Aegis, a company that issues the Bitcoin-backed stablecoin YUSD.
He began his career in audit and then moved into crypto research, strategy and early-stage investing. He worked as an Audit Associate at KPMG, then as a Senior Analyst at Cointelegraph Consulting from 2020 to 2022.
He also worked in strategy and business development at COIN360 and as an investor at Pretiosum Ventures from 2022 to 2024. In 2024 he co-founded Aegis, where he works on YUSD, a delta-neutral stablecoin that holds Bitcoin as collateral and hedges it with Bitcoin-margined perpetual contracts. He is known for the project's emphasis on transparency and on-chain verifiability of reserves.
He has appeared on the Crypto Coin Show (May 2025) and the Token For Your Thoughts podcast (April 2025) to discuss stablecoin design and DeFi. He is based in the United Arab Emirates.
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Latest interview · May 13, 2025Ermin Sharich on Bitcoin-backed stablecoins and DeFi's futureWatch the episode →
Key points
- YUSD is a delta-neutral stablecoin backed by Bitcoin using long spot positions hedged with short perpetual futures to eliminate price exposure.
- Bitcoin-backed stablecoins eliminate counterparty risk from traditional fiat-backed coins by keeping all backing assets on-chain and verifiable.
- YUSD generates yield for holders through funding rates earned on the short perpetual side of the delta-neutral hedge strategy.
- Fiat-backed stablecoins like USDC face banking system risks, as demonstrated when Circle's collateral held at Silicon Valley Bank triggered market fear.
- Aegis uses third-party custodians and off-exchange settlement to secure collateral without exposing it to exchange failure risks.
In their own words
“Crypto lets us tokenize the strategy and offer it to the public at almost no cost.”
“When there is clarity around regulation, you know you are protected, and you feel safe using the tool.”
