Bitwise CEO announced on X that USD AI has created GPU-backed credit for underserved mid-sized borrowers, tokenizing the loans. Real-world credit is moving on-chain, with Bitwise offering access through PAPY.

Bitwise's Premium RWA Vault (PAPY) attracted $8 million in deposits within 24 hours of launch, aiming to integrate real-world assets (RWA) into DeFi, reflecting strong investor interest.

Crypto asset manager Bitwise has launched an RWA yield vault called PAPY on Morpho, a DeFi lending protocol built on Ethereum. According to Techub, citing Cointelegraph, the product generates yield by lending AUSDi deposits against overcollateralized tokenized real-world assets. The launch ties traditional financial assets to DeFi lending infrastructure through a structure aimed at onchain yield generation. Bitwise is described as a U.S. crypto asset management firm that operates multiple cryptocurrency index funds and ETF products, while Morpho provides a modular lending framework that lets users create custom lending markets. The report says the collaboration is designed to offer institutional investors a compliant route to earn yield onchain.

Crypto asset manager Bitwise has announced the launch of the RWA vault PAPY on lending protocol Morpho, targeting an annualized yield of 5-6% with a capacity of up to $1 billion. The vault programmatically lends Agora-issued stablecoin AUSD to overcollateralized tokenized real-world assets. Collateral includes PST (cross-border payment financing) from Huma Finance at 45%, PRIME (home equity loan claims) from Hastra and Figure at 30%, and sUSDai (GPU-secured loans) from USDai at 25%. The vault charges a 0.39% management fee with no performance fee and no lock-up period for deposits or withdrawals.