Zama, a DeFi confidentiality protocol, has expanded its confidential yield offerings with the launch of sixteen curated vaults and the official release of the Zama Swap Protocol. The rollout, announced on September 15, 2026, builds on Zama's June launch of the confidential USDC Prime vault with Steakhouse Financial and Morpho, which grew from zero to nearly $40 million in total value locked within seven weeks.
The new vaults are available for deposits through the Zama App and are designed for institutional allocators, active market participants, and corporate treasuries seeking on-chain yield without revealing strategies or holdings. The initiative brings together five curators: Steakhouse Financial, Armitage by Flowdesk, Wintermute, Bitwise, and RockawayX. The sixteen vaults cover five asset classes, including USDC, TGBP, AUSD, and USDT, and consist of twelve hybrid vaults plus four new confidential vaults without openly accessible equivalents.
Morpho has also announced a partnership with Zama, allowing capital allocators to deposit into curated Morpho Vaults confidentially. The collaboration is expected to attract more institutional interest and strengthen Morpho's position in the competitive decentralized yield market.
Zama CEO and co-founder Dr. Rand Hindi said, “Today’s expansion is proof of the model at scale. Sixteen vaults, five curators, five asset classes, all built on the same DeFi infrastructure that sophisticated capital already uses.” Morpho co-founder Merlin Egalite added that the approach will “scale confidential DeFi efficiently and open new possibilities for allocators onchain, without changing the strategy, the liquidity, or the risk profile.”
The Zama Swap Protocol aims to enable confidential asset exchanges, allowing users to swap between confidential assets such as vault share positions, cTGBP, cAUSD, cUSDT, and cUSDC. Zama says the September rollout provides a model for further expansion through 2026 and 2027, including more curators, distribution entities, institutional custody integrations, and additional asset classes.
