Bitwise Launches PAPY RWA Vault on Morpho with AUSD Support

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Bitwise has launched the Bitwise Premium RWA Vault (PAPY) on Morpho, bringing real-world asset (RWA) news into the on-chain news ecosystem. The vault accepts deposits in Agora’s AUSD, which are programmatically lent against over-collateralized RWA. Collateral includes PST from Huma Finance, sUSDai from AI GPU loans, and PRIME from home equity tokens. AUSD is backed by U.S. Treasuries and repurchase agreements. Bitwise manages collateral selection and risk parameters. The vault is now live on Morpho.

ChainCatcher report: Bitwise has launched the Bitwise Premium RWA Vault (PAPY) on Morpho and partnered with Agora’s stablecoin, AUSD. Users can deposit AUSD into PAPY, where the vault programmatically lends out the funds, backed by overcollateralized tokenized RWA assets, to generate on-chain lending yields. The collateral assets in PAPY include PST from Huma Finance, used to provide short-term cross-border payment financing to institutions; sUSDai from USDai, backed by loans tied to AI computing power and GPUs; and PRIME, developed by HastraFi in collaboration with Figure, consisting of tokenized receivables secured by high-quality residential equity. AUSD is fully reserve-backed by liquid assets including short-term U.S. Treasuries, overnight repos, and reverse repurchase agreements. Bitwise is responsible for selecting eligible collateral for PAPY and setting programmable risk parameters. The vault is now officially live on Morpho.

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