Fypher Announces Strategic Partnership with Concrete to Expand Institutional-Grade DeFi Infrastructure for FYUSD
Seoul — 09 Mar, 2026
Fypher — the platform behind FYUSD, a U.S. dollar stablecoin issued by BitGo Bank & Trust and designed in accordance with the GENIUS Act framework, and actively building institutional partnerships across Asia — today announced a strategic partnership with Concrete to expand institutional-grade DeFi infrastructure and strengthen FYUSD’s utility and composability across on-chain ecosystems.
Through this collaboration, Concrete will design and operate non-custodial smart contract vault infrastructure across multi-chain environments, enabling users to access structured DeFi strategies through Concrete’s independently operated vault infrastructure via on-chain protocols. Concrete’s vaults are operated independently from FYUSD issuance and reserve management, and FYUSD’s reserves are intended to remain fully segregated and compliant with applicable regulatory requirements.
About Concrete
Concrete is an on-chain capital allocation and vault infrastructure platform designed for institutional and professional asset allocators. According to official sources, Concrete launched with significant initial capital and is focused on long-term capital strategy design for institutional allocators. The platform primarily serves hedge funds, family offices, and DAO treasuries, supporting multi-chain asset deployment.
On the risk management front, Concrete applies multi-signature access controls, segregated vault structures, conservative risk parameters operating principles, and pre-defined liquidation and unwind procedures. The platform also emphasizes smart contract risk management through independent external security audits and continuous on-chain monitoring.
Partnership Details: FYUSD Vault Architecture
At the core of this partnership is the development of dedicated vault architecture that supports FYUSD within DeFi ecosystems. Concrete will deploy and manage modular smart contract vaults featuring real-time NAV (Net Asset Value) tracking, synchronous deposit and withdrawal processing, and institutional-grade reporting capabilities.
On the strategy side, the infrastructure will support market-neutral, low-volatility strategies designed to minimize directional exposure. Importantly, FYUSD’s reserves are not deployed into DeFi vaults and are maintained separately in full compliance with applicable reserve requirements, including U.S. Treasuries and bank deposits.
From the Builders
“This collaboration enables us to expand FYUSD’s utility within transparent, auditable, institutional-grade DeFi infrastructure. Our reserves remain fully compliant and segregated, while this integration gives the broader ecosystem new and more robust ways to build with FYUSD.”
— [Christine Choi, Chief Growth Officer], Fypher
“We are honored to serve as the DeFi infrastructure partner for the FYUSD ecosystem. Backed by infrastructure optimized for institutional-grade stablecoin integration, we will provide a stable, reliable execution environment.”
— [Nic Roberts Huntley, CEO], Concrete
Outlook
Going forward, both parties plan to expand the scope of their collaboration to include additional vault deployments, expanded digital asset strategies, and deeper DeFi integrations across lending protocols, DEX liquidity layers, and structured product platforms.
Through this partnership, FYUSD gains access to on-chain infrastructure that meets institutional capital management standards ranging from tens of millions to hundreds of millions of dollars — further strengthening its competitive position and composability within the stablecoin market.
About
Fypher
Fypher is the infrastructure platform supporting the FYUSD, a US dollar stablecoin, issued by BitGo Bank & Trust and designed in accordance with the GENIUS Act framework. Designed for institutional and DeFi-native users, FYUSD combines full regulatory compliance, transparent reserves backed by US Treasuries and bank deposits, and broad DeFi composability. Fypher is actively expanding its institutional partnership network across Asia, working with leading financial institutions and digital asset platforms to drive regional adoption. — fypherusd.com
Concrete
Concrete is an on-chain capital allocation and vault infrastructure platform designed for institutional DeFi, built by a team of veterans from Point72, Morgan Stanley, Coinbase, and EigenLayer. Across its platform and strategies, Concrete has supported over $10B in cumulative transaction volume, alongside more than $800M in TVL. The company has raised $19M in funding from Polychain Capital, YZi Labs (formerly Binance Labs), VanEck, and Hashed, and its smart contracts have been audited by Halborn and Zellic. Concrete provides battle-tested vault strategies, execution services, and risk management infrastructure for hedge funds, family offices, DAO treasuries, and digital asset protocols. — concrete.xyz
Important Disclosures
This announcement is for informational purposes only and does not constitute an offer to sell or solicitation of an offer to buy any security, investment product, or service. Digital assets and DeFi protocols involve risk of loss. Past performance does not guarantee future results. This announcement contains forward-looking statements regarding future products and services, which are subject to change. Neither Fypher, Blueprint Finance, nor Concrete undertakes any obligation to update forward-looking statements.
Media Contact: contact@fypherusd.com
