Hacker Motoharu has released version 2 of psvpfstools. The toolkit now has full PFS support. The release contains binaries for Windows and Ubuntu.
What is psvpfstools?
Decrypting the PFS Filesystem can be done on a hacked PS Vita, but the benefits of psvpfstools is that it runs standalone on a PC, and understands the full layer. As such, it is compatible with 3.61+ games as well. Psvpfstools 2.0 can decrypt in particular: gamedata, addcont, savedata, trophies, appmeta, addcont root.