GSR Committed $100 Million to Launch Onchain Credit Vault
The liquidity provider has established Hare as a dedicated business line to formalize its operations in onchain credit markets.
Updated on Oct. 7, 2026 in Startups
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GSR has announced a $100 million commitment to launch Hare, a new business focused on onchain credit vaults. This move marks a strategic shift for the firm as it pivots to treat credit as a standalone product line.
Why it matters
By launching a dedicated credit-focused entity, GSR is scaling its existing liquidity and over-the-counter infrastructure into the growing sector of tokenized asset finance. This development reflects an industry push to move complex credit products onchain using institutional-grade regulatory frameworks.
GSR is building on top of its existing liquidity operations, which support over $1 billion in onchain asset origination through Libeara. The firm recently bolstered its infrastructure with a FINRA-registered broker-dealer and Cayman Islands regulatory registrations.
The players
GSR
A digital asset market maker and liquidity provider that handles over-the-counter trading and institutional-grade financial services.
Libeara
A platform specializing in tokenized asset origination that currently supports over $1 billion in onchain activity.
The details
Hare will operate as a dedicated credit vault business, leveraging GSR's established liquidity and over-the-counter trading desk mechanisms. The firm utilizes its network of regulated entities and liquidity relationships to manage the flow of capital in these onchain structures. This architecture is supported by integrations with platforms like Libeara, which handles the origination of tokenized assets on the blockchain.
Timeline
2013: GSR was founded.
March 2026: GSR acquired Autonomous and Architech for $57 million.
September 2026: GSR secured regulatory registrations in the Cayman Islands.
October 7, 2026: GSR announced the launch of the Onchain Credit Desk.
The Tech Race
GSR is positioning itself against established market makers and decentralized finance protocols that have begun competing for dominance in the onchain credit space. This development signals a broader transition from pure liquidity provision toward the full-stack management of tokenized debt products.
Users can expect Hare to begin structuring its inaugural credit products in the coming months, though specific eligibility criteria for deposits remain unannounced. The platform will initially leverage GSR's existing liquidity infrastructure to support its onchain vault operations.
The takeaway
GSR is formalizing its entry into the credit market by consolidating its regulated infrastructure under the Hare brand. Observers should monitor the release of the firm's first product roadmap to determine how these vaults will interface with existing onchain liquidity providers.
Further reading
Explore more developments in emerging financial technology in our Startups section.
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Does the entry of established trading firms into decentralized finance make you trust onchain credit more?
