TechFlow News, June 17: According to The Block, Zama, Morpho, and Steakhouse Financial will launch Steakhouse Confidential USDC Prime Vault—a confidential DeFi yield product built on Ethereum—enabling institutional users to deposit encrypted USDC and earn yields without revealing on-chain positions, transaction amounts, or trading strategies.
Built upon Zama’s fully homomorphic encryption (FHE) technology and Morpho’s lending infrastructure, the product allows users to directly convert standard USDC into encrypted cUSDC on Ethereum—no cross-chain bridge required. The vault is scheduled to open deposits via the Zama app on June 23.
The project team stated that this initiative aims to meet institutional demand for on-chain privacy and confidentiality in fund allocation. Earlier this month, Morpho completed a $175 million funding round, valuing the protocol at approximately $2 billion.
