What GSR is building with Hare

New Onchain Credit Business

GSR is building an onchain credit business with Hare, focusing on credit as its core product. The $100 million commitment is the anchor capital behind the launch.

Connection to GSR's Onchain Credit Desk Insight

The launch connects directly to GSR's October 2026 insight on building an Onchain Credit Desk. This indicates that GSR is treating credit as a dedicated line of business rather than a side experiment.

What this means for onchain credit

GSR brings two assets most decentralized finance protocols lack: deep liquidity relationships and a growing set of regulated entities, including Cayman registrations and a US broker-dealer. This expansion of GSR's presence in the onchain credit market is significant for the decentralized finance space.

Next Steps and Implications

Things worth watching from here include how Hare structures its first products and who is allowed to deposit. Another is whether GSR routes vault activity through its regulated entities, and how the Libeara relationship and broader RWA pipeline feed into the credit book.

Conclusion

GSR's launch of Hare marks an important step forward for the onchain credit market. With its commitment of $100 million and deep liquidity relationships, Hare is poised to make a significant impact in the decentralized finance space.