Bitwise Launches PAPY Real-World Asset Yield Vault on Morpho Protocol

Bitwise has officially launched PAPY, a high-yield Real-World Asset (RWA) vault hosted on the Morpho lending protocol.
The vault generates returns by deploying AUSDi deposits against overcollateralized tokenized assets, bridging traditional finance yield streams with decentralized finance infrastructure. The structure allows institutional and crypto-native investors to access risk-managed, asset-backed yields within an automated lending framework.