Key facts
- Morpho has raised $175 million in a funding round co-led by Paradigm, a16z crypto, and Ribbit Capital.
- The funding aims to build an 'open credit network for the world' for programmable lending products.
- The protocol's valuation reached up to $2 billion.
- Morpho allows users to create isolated lending markets with customizable risk parameters.
- The protocol has accumulated over $11 billion in user deposits.
- Major crypto institutions like Coinbase and Binance are among its users.
Decentralized lending platform Morpho has secured $175 million in new funding, highlighting persistent demand for decentralized finance (DeFi) infrastructure. The protocol, which allows users to create isolated lending markets with customizable risk parameters, was valued at up to $2 billion in the round, which was co-led by Paradigm, Andreessen Horowitz (a16z), and Ribbit Capital.
The funding round also saw participation from strategic investors including Apollo Funds, Circle Ventures, and VanEck, and aims to build what Morpho describes as an 'open credit network for the world.' Morpho's platform has accumulated over $11 billion in user deposits and is utilized by major crypto institutions such as Coinbase and Binance, as well as French banking giant Société Générale.
Morpho co-founder Paul Frambot stated the goal is to connect those with excess capital to those needing financing globally, using the proceeds to enhance technical and commercial integrations with strategic partners. The investment comes despite an uptick in DeFi exploits this year.