Concrete, Fypher, and ether.fi Launch Institutional Vault as Fypher Mints First $10 Million in FyUSD

Fypher has minted the first $10 million in FyUSD for an institutional vault developed with Concrete and ether.fi. According to Foresight News, the vault infrastructure is designed for Asian institutional users and will be supported by Concrete. Fypher will provide the stablecoin infrastructure and distribution, while ether.fi will contribute funds to the vault. Concrete will manage the vault infrastructure and on-chain strategy execution, including allocation, accounting, and rebalancing.