GSR Launched $100 Million Onchain Credit Vault
The liquidity firm is entering the onchain credit market, creating new potential for businesses to access digital asset-based lending.
Updated on Oct. 7, 2026 in Startups
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GSR has committed $100 million to launch Hare, an onchain credit vault business. The move marks a strategic shift to treat credit as a dedicated line of business by leveraging the company's existing liquidity infrastructure.
Why it matters
By establishing a dedicated credit desk, GSR aims to institutionalize onchain lending and expand its reach beyond traditional over-the-counter trading. This shift signals an increasing effort to bridge regulated financial frameworks with blockchain-based asset origination.
GSR has committed $100 million to launch the Hare vault, following a $57 million spend in March 2026 to acquire Autonomous and Architech. These efforts build on a sector already seeing scale, as Libeara currently supports over $1 billion in onchain asset origination.
The players
GSR
A liquidity provider and market maker founded in 2013 that manages over-the-counter trading and regulated financial services.
Hare
A new onchain credit vault business launched by GSR to structure and manage credit-based digital assets.
Libeara
An infrastructure platform currently supporting over $1 billion in onchain asset origination.
The details
GSR will utilize its existing regulated entities and liquidity relationships to manage the new credit vault. The company plans to structure initial credit products through the Hare platform, integrating its historical focus on liquidity and over-the-counter trading into the digital asset credit space. This development follows GSR's recent expansion into the United States via the acquisition of a FINRA-registered broker-dealer.
Timeline
GSR was founded in 2013.
The acquisition of Autonomous and Architech closed in March 2026.
Regulatory registrations in the Cayman Islands were secured in September 2026.
The Onchain Credit Desk was officially announced on October 7, 2026.
Market Landscape
GSR’s entry into credit vaults mirrors the broader industry trend of institutionalizing onchain asset origination, a space already seeing significant scale with over $1 billion in managed volume. This move follows a period of consolidation for the firm, including the acquisition of specialized technical units to support regulated financial services.
Operators in the digital asset space should monitor the eligibility requirements for Hare deposits as they are finalized in the coming months. Companies evaluating new credit sources should watch how this vault integrates with existing regulated broker-dealer frameworks.
The takeaway
GSR is scaling its credit operations to compete in the burgeoning onchain lending market. Monitor GSR's upcoming product disclosures to determine if your treasury or credit operations can leverage this new liquidity structure.
Further reading
For more on the latest developments in early-stage ventures, explore our Startups section.
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Does the entry of established trading firms into decentralized finance make you trust onchain credit more?
