Crypto trading giant GSR's new vault business is a $100M bet on onchain credit. October 7, 2026 - By CoinDesk - Original GSR has launched Hare, an onchain vault business with a $100 million commitment, targeting institutional finance and onchain credit solutions. Confidence: 80% Horizon: medium-term Key numbers. * $100 million * $8.6 billion * 788 curated vaults * 10 million backing from Two Prime Market drivers (micro). * Growing institutional demand for onchain vaults * Increasing tokenization of traditional assets * Development of yield-generating strategies in DeFi Context (macro). * Shift towards digital asset utilization in finance * Expansion of blockchain technology in traditional finance sectors Who wins / who loses. * Winners: Institutional investors seeking yield and liquidity. * Losers: Traditional financial institutions that may struggle to adapt. Scenarios. Base The onchain vault business will attract significant institutional investment, enhancing liquidity and yield opportunities. Alt If market conditions worsen, institutional interest may decline, limiting the growth of onchain vaults. What to watch next. * Performance of Hare's initial products in the market. * Further developments in institutional adoption of onchain finance. * Trends in tokenization of traditional financial assets. Full analysis. GSR launches $100 million onchain vault business. Crypto trading giant GSR has announced the launch of its new onchain vault business named Hare, marking a significant $100 million commitment aimed at capitalizing on the growing demand for onchain credit in institutional finance. This venture is particularly timely as more traditional assets are being tokenized and moved onto blockchain platforms. The Hare vault business. Hare will focus on creating and managing onchain vaults that allow investors to earn yield on major dollar stablecoins and Paxos tokenized gold products. The initial offerings will include Aave-powered vaults, with GSR providing anchor liquidity through a credit facility. This strategic move reflects the increasing institutional interest in vaults that utilize digital and tokenized assets across various lending markets. Institutional demand for onchain solutions. As the landscape of finance evolves, the demand for infrastructure that can effectively deploy digital assets is becoming more pronounced. Investors can deposit their assets into smart contracts, allowing managers to decide how to allocate that capital across lending markets and other yield-generating strategies. This model not only enhances the utility of assets but also aligns with the broader trend of tokenization in finance. According to data from vaults.fyi, as of July, there were approximately $8.6 billion in assets spread across 788 curated vaults, indicating a robust market for these financial instruments. GSR's commitment to Hare is seen as a deployment capital strategy, ensuring that issuers receive liquidity from day one while also attracting outside investors. Future outlook. Hare will initially launch two products: Hare USD Earn, which will accept major dollar stablecoins, and Hare Gold Earn, designed for holders of Paxos' tokenized gold products. The venture is expected to draw more institutional firms, as evidenced by recent activities from other crypto lenders and platforms. In conclusion, GSR's strategic investment in Hare positions it at the forefront of the evolving onchain finance landscape, catering to the increasing appetite for innovative financial solutions among institutional investors.

Entravel Group has raised $7.5 million in a funding round co-led by Ethereal Ventures and Finality Capital, with participation from GSR, Varrock, G1 Ventures, Seier Capital, Veris Ventures, Funfair Ventures and WTG Ventures. The Delaware-registered company provides white-label hotel booking infrastructure to digital platforms, with clients including Kraken, MetaMask and KuCoin. The company operates through three units that aggregate inventory from more than 2.2 million properties and deliver it via API integration. Entravel says it has embedded its infrastructure into over 40 platforms, primarily crypto exchanges and digital wallets. Proceeds will fund larger supplier credit facilities, expansion into traditional travel apps, and a stablecoin-based settlement layer for multi-currency payments. Entravel has not disclosed which stablecoin it will use or its regulatory licensing approach across its US, Spain, UAE and Switzerland entities.

New appointments in reward, payroll and Benefits - September. Reward Strategy rounds up the latest appointments and promotions across payroll, reward, employee benefits and workplace technology. Claire Cockram joins Reckitt to lead Global Payroll Transformation Claire Cockram has joined Reckitt as head of global payroll transformation and process owner, following her departure from international law firm Clyde & Co. Cockram brings more than 25 years' experience across global HR and payroll transformation, with a background in delivering complex international change programmes. In her previous role at Clyde & Co, she led the firm's global payroll transformation programme. Announcing the move, Cockram said she was "deeply proud" of the foundations built during her time at Clyde & Co and described the Reckitt position as an opportunity to work at greater scale and global impact. Shaily Sharma promoted to Payroll Director at GSR Shaily Sharma has been promoted to director, payroll at GSR. Announcing the promotion on LinkedIn, Sharma said the appointment represented a significant milestone following years of work and development within the payroll profession. The promotion strengthens Sharma's leadership responsibilities at GSR and reflects her continued progression within the organisation. Samuel Jones joins GPA's Global Advisory Service Payroll professional Samuel Jones FCIPPdip has joined the team behind the Global Payroll Alliance's Global Advisory Service. The service provides GPA members with support on technical payroll questions, process issues and wider international payroll enquiries across different jurisdictions. Jones has held a range of roles across the payroll profession, including payroll education and advisory positions, bringing both technical and practical payroll experience to the service. Mandar Naik takes on expanded reward responsibilities at LKQ Europe Mandar Naik MCIPPdip has taken on an expanded role at LKQ Europe as European Head of Compensation & Benefits. Naik has a background across payroll and reward and has increasingly moved into broader total reward responsibilities, combining payroll expertise with work across compensation and employee benefits. The move reflects the growing overlap between payroll, reward and benefits as organisations look to take a more joined-up approach to employee remuneration and workforce strategy. Broadstone appoints Ben Reyer as principal consultant Broadstone has appointed Ben Reyer as principal consultant - business protection within its Employee Benefits Consulting division. Reyer joins the consultancy from Towergate Health & Protection, now Everywhen, where he spent more than 15 years and most recently worked as business development manager within its business protection team. He brings more than 20 years' experience across business protection, insurance and employee benefits, including advising organisations on shareholder protection, key person cover, relevant life cover, loan protection and executive income protection. In his new position, Reyer will work with Broadstone clients to identify and manage risks relating to people, ownership structures and longer-term business resilience. Sébastien Cano named incoming CEO of LumApps Employee experience platform LumApps has appointed Sébastien Cano as chief executive officer, effective from 1 December 2026. Cano will succeed LumApps founder Sébastien Ricard, who will move into the position of executive chairman and remain involved in the company's strategy and governance. Cano joins from Thales, where he served as senior vice president of Cyber Security Products and led its global cybersecurity division. His career spans more than two decades in enterprise software, cybersecurity, telecommunications and financial services. At LumApps, his priorities will include expanding the company's international enterprise footprint and accelerating its development of AI-led employee experience technology. Kay Augustus joins CIPP Board Kay Augustus ChMCIPPdip has joined the board of the Chartered Institute of Payroll Professionals (CIPP), with the appointment taking effect from 1 September. Augustus, founder and CEO of Augustus Payroll Services, joined the board following the departure of Brian Sparling. She had been runner-up in the institute's AGM election and has now taken up the resulting vacant board position. With more than two decades of payroll experience, Augustus founded her independent payroll bureau in 2022 and has since grown the business to support hundreds of clients and thousands of payslips each month. The appointment forms part of a wider change to the CIPP's board leadership, with Stuart Hall becoming chair and Brendan Mulkern taking up the position of vice-chair. Let Shard Financial Media Ltd. know about your move for a chance to be featured in next months edition - Share your move Add New Comment