Concrete Partners with Fypher and ether.fi to Bring Institutional Vault Infrastructure to fyUSD

The collaboration brings Concrete Vaults to fyUSD, launching with $10 million in initial minting and ether.fi as the primary vault depositor.

NEW YORK, Nov. 11, 2026 /PRNewswire/ -- Concrete, the full-stack institutional operating system for on-chain finance, today announced a collaboration with Fypher and ether.fi to bring institutional vault infrastructure to fyUSD, a new stablecoin built for institutional users in Asia.

fyUSD is expected to launch with $10 million in initial minting, with Concrete serving as the vault infrastructure partner from day one and ether.fi as the primary depositor into the Fypher vault.

The collaboration brings together Fypher's stablecoin infrastructure, Concrete's vault architecture, and ether.fi's capital deployment to connect institutional stablecoins with on-chain financial markets.

The result is an integrated infrastructure stack designed to bring institutional capital on-chain and put it to work.

Bringing On-Chain Yield Infrastructure to fyUSD

As stablecoins become core infrastructure for moving dollars on-chain, the opportunity increasingly extends beyond issuance and settlement to deploying capital productively.

Through this collaboration, eligible fyUSD will have access to Concrete Vaults, creating a direct path from the stablecoin into on-chain yield strategies.

Concrete Vaults provide a single infrastructure layer for deploying assets across on-chain strategies, abstracting away the complexity of allocation, execution, accounting, and rebalancing behind a single vault position.

ether.fi will serve as the primary depositor into the Fypher vault, deploying capital through Concrete's infrastructure. This brings together institutional stablecoin infrastructure and an established DeFi protocol through a unified vault architecture.

fyUSD itself does not generate yield. Eligible holders may separately access yield-generating strategies through Concrete Vaults, subject to applicable terms and risks.

Connecting Institutional Stablecoins with DeFi Capital

The collaboration brings together three complementary participants:

• Concrete provides the institutional vault infrastructure supporting capital allocation, strategy execution, accounting, and on-chain deployment.
• Fypher provides the stablecoin infrastructure and brings fyUSD to market.
• ether.fi serves as the primary depositor into the Fypher vault, deploying capital through Concrete's infrastructure.

Together, the three participants demonstrate how Concrete's infrastructure can connect stablecoin ecosystems with capital from established DeFi protocols.

For Concrete, the collaboration reinforces the role of vault infrastructure as a foundational component of institutional on-chain finance, enabling financial products and capital providers to operate through a standardized infrastructure layer.

Expanding Institutional On-Chain Finance

Concrete is building the full-stack institutional operating system for on-chain finance, providing standardized vault infrastructure to deploy capital across crypto-native and real-world opportunities.

The launch of fyUSD extends Concrete's infrastructure to a new institutional dollar and a new market, while ether.fi's participation demonstrates the ability of Concrete Vaults to support capital deployment from established DeFi protocols.

As more institutions bring financial products on-chain, Concrete provides the infrastructure connecting those products with capital, strategies, and execution.

Fypher brings fyUSD to market. ether.fi deploys the capital. Concrete powers the infrastructure.

About Concrete

Concrete is an Ethereum-based protocol that provides institutional-grade tooling for on-chain yield generation. With a proven track record of executing billions in structured flow volume, Concrete offers sophisticated vault architecture and strategy layering to enable secure and transparent yield generation in the DeFi ecosystem. Concrete is part of the Blueprint ecosystem.

About Blueprint Finance

Blueprint Finance is a multi-chain DeFi infrastructure company and the core developer of the Ethereum-based Concrete protocol. Concrete powers tokenized DeFi-native vault infrastructure and the creation of new derivatives for any asset. The company's quantitative framework transforms complex DeFi mechanisms into products that work reliably for both institutions and individuals alike. By addressing traditional DeFi pain points, such as liquidation risk and capital fragmentation, Blueprint is building the technical foundation for broader institutional adoption of decentralized finance.

This press release is for informational purposes only and does not constitute an offer of securities, investment advice, or a solicitation of any kind. Yield is variable and not guaranteed. Past performance is not indicative of future results. Participation involves smart contract risk, market risk, and potential loss of principal. Users should review all applicable terms and conduct their own research before participating. Concrete vaults are not insured by any government agency.