Concrete collaborates with Fypher and ether.fi to introduce institutional-level treasury infrastructure for fyUSD.
This collaboration will introduce Concrete Vaults into fyUSD, with an initial minting scale of 10 million US dollars at launch. ether.fi will serve as the main gold reserve holder.
New York, November 11, 2026 / PRNewswire / -- The full-stack blockchain finance institution operating system Concrete announced today that it has reached a partnership with Fypher and ether.fi to provide institutional-level treasury infrastructure for fyUSD. fyUSD is a new stablecoin designed for Asian institutional users.
fyUSD is expected to launch with an initial minting scale of 10 million US dollars, Concrete will act as the treasury infrastructure partner from the first day of the project's launch, and ether.fi will serve as the main depositor for Fypher's treasury.
This collaboration combines the stablecoin infrastructure of Fypher, the treasury architecture of Concrete, and the capital deployment capabilities of ether.fi to connect institutional stablecoins with on-chain financial markets.
The company stated that the result is an integrated infrastructure stack designed to bring institutional capital onto the blockchain and put it into operation.
Introduce on-chain revenue infrastructure for fyUSD
As stablecoins become the core infrastructure for the on-chain circulation of the US dollar, related opportunities are increasingly expanding from issuance and settlement to more efficient deployment of capital.
Through this collaboration, eligible fyUSD will be able to connect to Concrete Vaults, thereby establishing a path from stablecoins directly to on-chain profit strategies.
Concrete Vaults provides a single infrastructure layer that allows assets to be deployed into on-chain strategies, and it eliminates complexities such as asset configuration, execution, accounting, and rebalancing through a single treasury position.
ether.fi will serve as the primary depositor for the Fypher treasury, deploying capital through the infrastructure of Concrete. This will integrate the institutional stablecoin infrastructure with the mature DeFi protocol through a unified treasury architecture.
fyUSD itself does not generate any income. Eligible holders may, under the applicable terms and risk constraints, obtain income-generating strategies through Concrete Vaults.
Linking institutional stablecoins with DeFi capital
This collaboration brings together three complementary participants:
- Concrete provides institutional-level treasury infrastructure, supporting capital allocation, strategy execution, accounting, and on-chain deployment.
- Fypher provides stablecoin infrastructure and launches fyUSD into the market.
- ether.fi, as the main depositor of the treasury of Fypher, deploys capital through the infrastructure of Concrete.
The three parties stated that this collaboration demonstrates how the infrastructure of Concrete connects the stablecoin ecosystem with the capital of the mature DeFi protocol.
For Concrete, this collaboration further strengthens the role of the treasury infrastructure as a fundamental component of institutional on-chain finance, enabling financial products and capital providers to operate through a standardized infrastructure layer.
Expand institutional blockchain finance
Concrete is building a full-stack institutional operating system for blockchain finance, providing standardized treasury infrastructure to facilitate the deployment of capital between crypto-native and real-world opportunities.
The launch of fyUSD will extend the infrastructure of Concrete to a new institutional dollar product and a new market, while the participation of ether.fi demonstrates Concrete Vaults's capability to support mature DeFi protocols for capital deployment.
As more and more institutions bring financial products onto the blockchain, the infrastructure provided by Concrete connects these products with capital, strategies, and execution.
Fypher is responsible for bringing fyUSD to the market, ether.fi is responsible for deploying capital, and Concrete is responsible for providing infrastructure.
About Concrete
Concrete is an Ethereum-based protocol that provides institutional-level on-chain revenue generation tools. The company states that, leveraging its past record of executing transactions worth billions of dollars in structured capital flows, Concrete offers a complex treasury architecture and strategic layering to support secure and transparent revenue generation within the DeFi ecosystem. Concrete is part of the Blueprint ecosystem.
About Blueprint Finance
Blueprint Finance is a multi-chain DeFi infrastructure company and also a core developer of the Ethereum-based Concrete protocol. Concrete provides support for tokenizing the native treasury infrastructure of DeFi and creating new derivatives for any assets. The company states that its quantitative framework transforms complex DeFi mechanisms into products that can stably serve institutions and individuals. By addressing traditional DeFi pain points such as clearing risks and capital fragmentation, Blueprint is building a technical foundation for the broader adoption of decentralized finance by institutions.
This press release is for informational purposes only and does not constitute a securities offering, investment advice, or any form of solicitation. Returns are variable and not guaranteed. Past performance does not indicate future results. Participation involves risks associated with smart contracts, market risks, and the potential loss of principal. Users should review all applicable terms before participating and conduct their own research. The Concrete treasury is not insured by any government agency.
