Market maker GSR has allocated $100 million to launch Hare, a new business entity focused on onchain credit vaults. This investment serves as the anchor capital for the project, which the firm views as a dedicated line of business rather than an experimental initiative.
The launch aligns with the company's strategy to develop an onchain credit desk. GSR, established in 2013, specializes in market making and over-the-counter trading, providing liquidity for large-scale transactions outside of public exchanges.
The firm has been actively expanding its infrastructure throughout 2026. In March, GSR acquired Autonomous and Architech for a total of $57 million to bolster its capital markets platform. Additionally, in September, the company secured registrations in the Cayman Islands and acquired a FINRA-registered broker-dealer for its US operations.
GSR also maintains a significant presence in the tokenization sector. The firm has backed Libeara, an infrastructure provider that supports more than $1 billion in onchain asset origination. These developments are intended to integrate deep liquidity and regulatory compliance into decentralized finance protocols.
