Mezo Launches Mezo Prime as Bullish Deploys 250 BTC Into Yield Vaults

Mezo has launched an institutional-grade product designed to help corporate treasuries earn yield and access lending on their bitcoin holdings.

Key Takeaways:

• Mezo and Anchorage Digital Bank launched Mezo Prime to provide bitcoin yield to corporate treasuries.
• Over 1,000,000 bitcoin currently sitting idle in custody can now access protocol yield without commingling.
• Bullish has deployed 250 BTC as the debut customer, signaling a shift in institutional treasury management.

Bridging the Gap for Corporate Treasuries

Bitcoin‑native finance platform Mezo has launched a product aimed at giving institutional holders and corporate treasuries access to yield and lending opportunities. The platform is built with Anchorage Digital Bank, the first federally chartered digital asset bank in the U.S., and debuts with Bullish as its initial customer.

Known as Mezo Prime, the product introduces segregated vaults, qualified custody, and protocol‑based yield, addressing a gap for firms that have struggled to put bitcoin holdings to work in line with institutional standards.

“Over a million Bitcoin sits on corporate balance sheets today, and almost none of it is working,” said Matt Luongo, Mezo co‑founder and CEO of Thesis. “Mezo Prime changes that. Segregated custody through Anchorage Digital Bank, no rehypothecation, real yield from protocol activity. We built this for CFOs and treasury teams who already own the asset and are ready to put it to work how they choose.”

At the core of the product are Enclaves—segregated bitcoin vaults isolated per depositor, with custody provided by Anchorage Digital Bank. Assets can be locked as veBTC to earn protocol fees or used as collateral for borrowing MUSD, Mezo’s Bitcoin‑backed stablecoin.

“Institutions want to do more with their Bitcoin, but not at the expense of security and control,” said Nathan McCauley, Anchorage Digital co‑founder and CEO. “Mezo Prime delivers both secure, segregated custody and direct access to onchain yield in one platform.”

Bullish, a publicly listed institutional digital asset platform, is the first to participate. The company has deployed 250 BTC from its corporate treasury into Mezo Prime while maintaining custody and compliance through Anchorage Digital.

“ Bullish was built on the belief that institutional standards and digital asset participation aren’t in conflict, and we’re delighted to work with Mezo as a launch customer,” said Tarun Kapoor, vice president at Bullish. “Their veBTC design is a great example of that philosophy in practice—mitigating smart contract risk and keeping the underlying BTC secure.”