Concrete, an institutional vault infrastructure provider for on-chain finance, has partnered with Fypher, a stablecoin infrastructure provider, and ether.fi, a DeFi protocol for liquid restaking, to bring institutional vault infrastructure to fyUSD. The new stablecoin is designed for institutional users in Asia.
fyUSD is expected to launch with an initial supply of $10 million. Concrete will provide the vault infrastructure, while ether.fi will act as the primary depositor into the Fypher vault.
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Through the integration, eligible fyUSD holders will be able to access Concrete Vaults and use their assets in on-chain yield strategies. The infrastructure handles asset allocation, execution, accounting, and rebalancing through a single vault.
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