Bitwise Launches PAPY RWA Vault on Morpho, Offering On-Chain Yield Backed by Tokenized Real-World Assets
1 hours ago
Bitwise announces the launch of the Bitwise Premium RWA Vault (PAPY) on Morpho, in partnership with Agora’s stablecoin AUSD. Users can deposit AUSD into PAPY, which deploys funds via programmatic lending strategies, collateralized by over-collateralized tokenized RWAs to generate on-chain lending yields. PAPY’s collateral assets include PST from Huma Finance, intended for short-term cross-border payment financing for institutions; sUSDai from USDai, backed by AI computing power-related GPU loans; and PRIME, a tokenized claim on high-quality residential equity developed by HastraFi in collaboration with Figure. AUSD is fully reserve-backed by liquid assets including short-term U.S. Treasuries, overnight deposits, and reverse repurchase agreements. Bitwise is responsible for screening eligible collateral for PAPY and setting programmatic risk parameters. The vault is now officially live on Morpho.
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