Global crypto trading firm and market maker GSR has committed $100 million in initial capital to Hare, a new on-chain credit venture. The multi-year commitment comes in the form of a credit facility, serving as anchor liquidity before external investors begin deploying funds.
GSR’s backing provides Hare with a stable capital foundation in its early days. The $100 million facility supports system operations to cushion fluctuations while the platform builds market trust to attract outside capital.
Curated Vaults Powered by Aave
Hare’s infrastructure was built in collaboration with liquidity distribution provider Turtle. The two partnered to design a curated credit vault management system that leverages the reliability of lending protocol Aave as its core engine.
Hare hit the ground running by launching two products targeting different asset holder segments. Its debut product, Hare USD Earn, provides a venue for investors looking to put their dollar stablecoins to work and generate regular yield.
The second product targets a more niche market. Hare Gold Earn offers holders of Paxos tokenized gold products - specifically PAXG and PAXGy - a way to earn yield on their physical digital assets rather than leaving them idle in wallets.
Institutions Move into the $8.6 Billion Market
GSR’s move adds to the growing roster of institutional players competing for a foothold in the on-chain credit ecosystem. Two similar initiatives came earlier: the launch of a $10 million Bitcoin lending vault by Two Prime, and a vault partnership between Galaxy Digital and Fireblocks.
Data from Vaults.fyi as of July 2026 indicates that the curated vault industry now boasts $8.6 billion in total assets under management. Investor appetite keeps this yield ecosystem thriving through liquidity distributed across 788 vaults, backed by 1.4 million active participants.
For well-capitalized firms, the $8.6 billion market size signals that decentralized yield infrastructure has matured enough to absorb institutional-scale capital.
Reported by CoinDesk.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
