Confidential DeFi at Scale

On September 15, 2026, Zama announced an expansion of its Ethereum-based confidential DeFi offering from a single cUSDC yield vault to 16 Morpho vaults spanning USDC, USDT, WBTC, AUSD, and TGBP, curated by Steakhouse Financial, Armitage by Wintermute, Flowdesk, RockawayX, and Bitwise. The launch includes four confidential-only products, notably a WBTC yield vault, while 12 existing strategies now accept encrypted confidential-token deposits without changing their stated liquidity, strategy, or risk parameters. Zama also introduced its Confidential Swap Protocol for private swaps between confidential assets and partnered with Merkl to support incentive campaigns computed on encrypted balances, concealing depositor positions, rewards, and leaderboards. Built as a confidentiality layer for existing L1 and L2 networks rather than a standalone blockchain, the protocol aims to let institutions and other users access familiar onchain yield infrastructure while limiting public exposure of balances and transaction amounts, with integrations from wallets and platforms such as Utila, Zerion, and Yield.xyz planned after launch.

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