Confidentiality will continue to unlock new institutional capital onchain. This is just the start. $13 million has already been deposited into the @Morpho vault accepting confidential USDC (cUSDC) as the deposit asset. Public blockchains expose every position, every trade, every strategy. For institutions managing real capital, that's a non-starter. cUSDC changes the equation. Institutions can now earn yield from leading DeFi credit strategies on @Morpho, curated by @SteakhouseFi, while keeping balances, allocations, and strategy confidential onchain. No exposure to competitors. No exposure to counterparties. No leaving DeFi. Zama is building utility for confidential assets. Yield on @Morpho is just the first use case. More to come on the @Zama Protocol.