Enterprise, AssetCX and institutional vaults

Level: Intermediate

Institutional vaults

Vaults built for specific institutional, professional or otherwise permissioned participants. In the Earn app they show as "Permission Required". Eligibility depends on the vault (example: a permissioned RWA USD1 vault). Contact details are on the docs page.

AssetCX (qualified-custody yield)

Problem: regulated institutions often cannot move assets out of qualified custody, so their BTC/ETH/stables sit idle.

How AssetCX works (per the docs):

1. The client moves assets to a designated wallet still inside their custodian account.
2. Concrete mints AssetCX 1:1 against that custody balance.
3. AssetCX is deposited into a vault; the client receives vault shares at the current exchange rate (normal ERC-4626 behaviour).
4. Yield raises totalAssets → the exchange rate rises. Losses are also reflected: an operator lowers reported total assets and the rate falls for all holders proportionally.

The underlying never leaves the QC environment; AssetCX stays 1:1 backed. On the app such vaults use the [asset]cx naming and show Permission Required. Custodians named on the homepage enquiry form: Anchorage, BitGo, Ceffu, Coinbase, Cobo, Copper, Fireblocks, Hex Trust, Zodia. Assets: BTC, ETH, SOL, stablecoins (USDT, USDC, USD1).

Audit history includes AssetCX (Jan 2026), AssetCX 1.2/1.3 alongside Earn v2 releases, and an AssetCX OFT & OFT Adapter audit (Aug 2026) - see Security.

Enterprise

"Vaults that scale with you." A platform for protocols, issuers and funds to launch and run their own vaults.

Setup: flexible roles and permissions; hosted UI or SDK integration; bring your own strategy, wallets and data sources.

Running: deposits, withdrawals and rebalancing on autopilot; exchange rates and yield accounting updated daily via a three-party automation cycle (NAV, epoch closing, withdrawal processing on a fixed schedule).

Monitoring: operations portal with live NAV and strategy performance, liquidity and withdrawal-queue status, configurable alerts for accounting thresholds and LTV breaches, full transaction history, daily digests (TVL, available withdrawals, pending allocations, queue depth) and dependency health checks.

Integrated data sources shown: Hyperliquid, DeBank, Binance, Lighter, Paradex, Tres.

Differentiators claimed on the page: daily NAV updates, on-chain and off-chain accounting, structural liquidity suite, multi-party fee rails, integration with the client's own wallet setup.

Case studies shown on the page

Enterprise app: enterprise.concrete.xyz. Vendor-page claims are marketing; verify independently.

When would you use which?