Concrete, Fypher, and ether.fi have announced a collaboration to bring institutional vault infrastructure to fyUSD, a new stablecoin built for institutional users in Asia.
According to a November 11, 2026 release from New York, fyUSD is expected to launch with $10 million in initial minting. Concrete will serve as the vault infrastructure partner from day one, while ether.fi will act as the primary depositor into the Fypher vault.
The partnership combines Fypher’s stablecoin infrastructure, Concrete’s institutional vault architecture, and ether.fi’s capital deployment. Eligible fyUSD holders will be able to access Concrete Vaults, which provide a single infrastructure layer for deploying assets across on-chain strategies and abstract away allocation, execution, accounting, and rebalancing.
fyUSD itself does not generate yield. Eligible holders may separately access yield-generating strategies through Concrete Vaults, subject to applicable terms and risks.
Concrete is an Ethereum-based protocol and part of the Blueprint ecosystem. Its developer, Blueprint Finance, is a multi-chain DeFi infrastructure company focused on institutional adoption of decentralized finance. The collaboration is intended to demonstrate how institutional stablecoins can connect with established DeFi capital through unified vault architecture.
