A16z, Paradigm lead $175 million investment to move global credit markets onchain
Morpho, a blockchain-based lending protocol, raised $175 million in a round co-led by Paradigm, a16z crypto, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and Ledger Cathay. The funding reflects growing investor belief that credit markets will move onchain. Morpho provides an open credit network that lets institutions and fintech firms build lending products on blockchain rails. It reports more than $11 billion in deposits and serves institutional clients such as Bitwise, Galaxy, and Anchorage Digital, along with crypto exchanges including Coinbase, Kraken, and Binance. The company is positioning itself as infrastructure for existing financial firms rather than a replacement for traditional finance. It says its network can unify fragmented lending markets and enable programmable credit products at scale. The new capital will be used to expand institutional lending infrastructure.
