News Summary

• GSR is committing $100 million to a new onchain credit business called Hare.
• The firm is putting its own capital into stablecoin and tokenized gold vaults.
• The move comes as vaults are becoming a key piece of onchain finance.
• As of July, there were $8.6 billion in assets across 788 curated vaults, reaching 1.4 million, according to Vaults.fyi data.
• The business will focus on the credit side of that equation, assessing collateral, counterparties and how positions might behave when markets come under stress.