Crypto Lending Protocol Morpho Raises $175 Million to Aid Wall Street’s DeFi Push
Summary
Morpho, a decentralized lending protocol, raised $175 million in one of the largest funding rounds in DeFi, bringing total financing to $243 million. The round was led by Paradigm, Andreessen Horowitz, and Ribbit Capital, with backing from Apollo Funds, Circle Ventures, VanEck, and others. Morpho has about $11 billion in user deposits and is used by major exchanges including Coinbase and Binance for stablecoin yield and crypto-backed borrowing. The company says the money will fund infrastructure growth and commercial integrations, as it aims to become a shared credit layer for banks, asset managers, and fintechs. The raise comes despite a difficult year for DeFi, marked by major exploits and liquidity crises across the sector.
