Morpho Raises $175M from a16z and Paradigm, Targets Wall Street DeFi Adoption
By
James Halver
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Summary
Morpho, a decentralized lending protocol on Ethereum and other blockchains with $6.6 billion in total value locked, has raised $175 million in a funding round led by Paradigm, Ribbit Capital, and a16z crypto. The round values the protocol at up to $2 billion and includes participation from Apollo Funds and Circle's venture unit. The founders aim to bridge traditional Wall Street institutions into decentralized finance (DeFi), positioning Morpho for a potential public debut.
Key quotes
· 2 pulledMorpho, a decentralized lending protocol operating on Ethereum, HyperEVM, and other blockchains currently holding $6.6 billion in total value locked, has raised $175 million in a funding round led by Paradigm, Ribbit Capital, and Andreessen Horowitz's digital assets arm a16z crypto
The round also drew participation from Apollo Funds, Circle's venture unit
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