Fypher Partners With Blueprint Finance to Build FYUSD On-Chain Yield Ecosystem

Fypher said April 13 that it will partner with institutional-grade decentralized finance infrastructure firm Blueprint Finance to build an on-chain yield ecosystem around the dollar stablecoin FYUSD.

FYUSD is structured to comply with the GENIUS Act, the US regulatory framework for stablecoins, while also addressing regulatory requirements in Asia. Custody will be handled by BitGo, one of the world's largest custodians.

Under the partnership, Fypher will manage the issuance and distribution of the stablecoin, while Blueprint Finance will oversee asset management through its DeFi infrastructure platform, Concrete.

The companies said the separation of issuance and asset management is designed to minimize regulatory risk and give stablecoin holders access to on-chain investment opportunities. FYUSD holders will be able to use Concrete for a range of DeFi activities, including investments in real-world assets, staking and lending.

Paul Kim, founder of Fypher, said FYUSD was designed as digital-dollar infrastructure to connect Asian institutional investors with global capital markets. Through the partnership with Concrete, investors will be able to earn on-chain yield in a regulated environment.

Nick Roberts-Huntley, chief executive officer of Blueprint Finance, said the collaboration between FYUSD and Concrete would help deploy capital more efficiently and deliver stable returns. It is also intended to create an environment where capital stays in the ecosystem longer rather than flowing out.