Morpho Secures $175 Million in Funding at $2 Billion Valuation

DeFi lending protocol Morpho has secured $175 million in fresh funding, with Paradigm, a16z Crypto, and Ribbit Capital leading the round. Apollo Funds, Circle Ventures, and VanEck also joined the investment, which values the platform at around $2 billion.

The capital raise comes as Morpho accelerates its push into institutional markets beyond its traditional crypto-focused audience. The protocol currently manages $6.6 billion in total value locked (TVL) and is used by major industry players, including Coinbase, Kraken, Anchorage Digital, and Galaxy Digital.

Source: Fortune