Crypto trading giant GSR launches onchain vault business with $100M bet
Summary
GSR is committing $100 million, mainly through a credit facility, to Hare, a new onchain credit business developed with Turtle. Hare will build managed vaults, initially offering a stablecoin yield product and a vault for Paxos tokenized gold, both using Aave. GSR’s capital will provide anchor liquidity before other investors participate. The launch reflects growing institutional interest in vaults that deploy digital and tokenized assets for lending and yield; curated vaults held $8.6 billion across 788 products as of July. Hare says it will assess collateral, counterparties and stress risks. Other firms, including Two Prime and Galaxy Digital, have recently launched institutional vault offerings.
