[Zama, Morpho, and Steakhouse Launch Ethereum Confidential DeFi Yield Vault] Deep Tide TechFlow reports on June 17, according to The Block, that Zama, Morpho, and Steakhouse Financial will launch an Ethereum-based confidential DeFi yield product called Steakhouse Confidential USDC Prime Vault. This product allows institutional users to deposit encrypted USDC and earn yields without disclosing on-chain holdings, transaction amounts, or strategy information. The product is built using Zama's Fully Homomorphic Encryption (FHE) technology and Morpho's lending infrastructure. Users can directly convert standard USDC on Ethereum into the encrypted version, cUSDC, without the need for a cross-chain bridge. The vault is expected to open for deposits on June 23 via the Zama application. The project team stated that this initiative aims to meet institutional demands for on-chain privacy and confidentiality in fund allocation. Previously, Morpho completed a $175 million funding round earlier this month, with the protocol valued at approximately $2 billion.