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

Odaily Planet Daily News DeFi lending protocol Morpho has announced the completion of a $175 million funding round, led by a16z Crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and other institutions.

According to reports, this funding round was priced based on the average price of the Morpho token over the past month, corresponding to a protocol valuation of approximately $2 billion. Morpho allows institutions to customize lending markets and risk parameters on-chain, and has already attracted adoption by institutions such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital.

Data shows that Morpho's current total value locked (TVL) is approximately $6.6 billion. The company stated that it will continue to expand its institutional-grade DeFi lending business and strengthen competition with lending protocols like Aave. (Fortune)