Earn DeFi yield.
Keep the position confidential.

Institutional capital wants public DeFi yield, but the public ledger publishes every deposit's size, direction, and timing line by line.

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Every onchain deposit signals your position. Alpha decays before maturity. Strategies get replicated; counterparties price against the position.

Zama is HTTPS for onchain finance: addresses stay public, positions get encrypted.

Verifiable

Onchain settlement, fully auditable.

Encrypted

Positions encrypted at the token level.

Compliant

Fund admin, custodians, and regulators retain access by role.

Composable

Drops into your existing stack.

$39B+
Ethereum DeFi TVL, deepest accessible institutional liquidity
As of June 2026 - DefiLlama
$6.72B
Morpho Total Value Locked (TVL).
As of June 2026 - DefiLlama
3–9%
stablecoin lending yields available on reputable DeFi venues

The institutional flows that can't be public.

Corporate treasury, trading desks, family offices and funds, custody-channel clients, four desks, one rail.

Corporate treasury

Deploying idle stablecoins into DeFi publishes your treasury position and timing to the entire market. Earn yield onchain without making your balance sheet a public signal.

Trading firms and prop desks

Every vault entry leaks your position and invites strategy replication before you've reached maturity. Trade onchain without broadcasting your book to everyone watching the chain.

Family offices and crypto-native funds

Fund allocations on a public ledger conflict with LP reporting standards and audit posture for private securities. Get onchain composability without compromising your confidentiality obligations.

Custody-channel yield

Institutional clients want onchain yield but won't deploy through transparent vaults. Custodians can now offer confidential yield through the existing custody experience, without changing the client workflow.

Zama is a protocol, not a chain.
A standard, not a silo

The Zama Protocol is in production on Ethereum mainnet, asset-agnostic and chain-agnostic, ready to be implemented with USDC, EURC, regulated bank stablecoins, and the custody, treasury, and ERP stack institutions already run.

Client-side Fully Homomorphic Encryption

Deposit amounts are encrypted in the institution's environment before the batcher sees them. Plaintext never leaves your system.

Close-up of multiple computer chips with glowing gold circuitry and light reflections.

Computation on encrypted data

The Zama Protocol's confidential batcher aggregates deposits, deploys them into the underlying public DeFi vault (Morpho first), and returns confidential receipt shares. The institution earns the yield of the underlying public vault; position size, direction, entry timing, and counterparty stay encrypted from the rest of the market.

Compliance, control and public verifiability

You decide who sees what, role by role, through the Zama Protocol's Access Control List (ACL) and selective disclosure features.

Institutions and teams already building with Zama

From confidential payroll to institutional trading — real deployments, on Ethereum mainnet, today.

T-REX - Institutional-Grade Confidentiality Infrastructure for RWA

Zama becomes the default confidentiality layer for T-REX Ledger, bringing FHE-powered privacy, compliance and interoperability together in one public blockchain infrastructure built for institutional scale.

Bron - Confidential payroll on Ethereum mainnet.

Bron's CFO paid team salaries on Ethereum mainnet using confidential USDT, amounts encrypted end-to-end with FHE, visible only to sender and recipient.

Raycash - private, compliant banking rebuilt onchain.

Raycash delivers a Revolut-style banking experience, IBANs, cards, yield, fully self-custodial and powered by Zama's FHE encryption, keeping balances and transactions private while remaining compliant with regulators.

Blockscout - The first explorer to support confidential tokens natively.

Blockscout now indexes and displays ERC-7984 confidential token activity, showing transfers, senders, and recipients onchain while keeping encrypted amounts fully private, powered by the Zama Protocol.

GSR - The first confidential OTC trade on Ethereum mainnet.

GSR executed the first confidential over-the-counter trade using the Zama Protocol, transaction amounts encrypted onchain between two KYC'd counterparties, eliminating information leakage and front-running risks.

Our investors have backed the most successful blockchain companies globally

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