Morpho Completes $175 Million Funding Round, Led by a16z Crypto and Paradigm

BlockBeats News, June 9, according to Fortune magazine, DeFi lending protocol Morpho announced the completion of a $175 million financing round, led by a16z Crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and other institutions. This round of financing was priced based on the average price of the Morpho token in the past month, resulting in a protocol valuation of approximately $20 billion.

Morpho allows institutions to create on-chain custom lending markets and risk parameters. It has already attracted adoption from institutions such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. Data shows that Morpho's current Total Value Locked (TVL) is around $6.6 billion. The company stated that it will continue to expand its institutional DeFi lending business and strengthen its competition with lending protocols like Aave in the future.