- Zama, Morpho, and Steakhouse launched a confidential yield vault.
- Users can earn yield without exposing balances onchain.
- The product uses encrypted USDC.
- Deposits begin on June 23.
Zama, Morpho, and Steakhouse Financial have launched what they describe as the first confidential DeFi yield product on Ethereum.
The new Steakhouse Confidential USDC Prime vault allows users to deposit encrypted USDC and earn yield while keeping wallet balances, transaction amounts, and investment positions hidden from public view.
The system is powered by Zama's fully homomorphic encryption technology, which enables sensitive financial information to remain private while still allowing compliance checks and audits when required.
Institutional investors have long expressed concerns about conducting large transactions on public blockchains where competitors can easily monitor activity. The new vault aims to solve that problem by providing privacy without sacrificing the benefits of decentralized finance.
Deposits will open on June 23 through the Zama application. Once funds are deposited, users gain access to Morpho's lending infrastructure and Steakhouse's established yield strategies.
The launch marks another step toward bringing institutional-grade privacy features to Ethereum's growing DeFi ecosystem.
