Zama, Morpho, and Steakhouse Financial will launch the Steakhouse Confidential USDC Prime Vault on Ethereum, claiming it to be the first DeFi yield product for confidential USDC stablecoins on Ethereum. The vault will open for deposits via the Zama app on June 23, allowing institutions to earn yields based on encrypted USDC balances without exposing balances, transaction amounts, or strategies on-chain. The product is built on Zama's fully homomorphic encryption cUSDC and Morpho's lending infrastructure, with cUSDC directly convertible from standard USDC on Ethereum without the need for cross-chain bridges. (The Block)

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