TechFlow News, June 9: According to Fortune, DeFi lending protocol Morpho has raised $175 million in a funding round valuing the company at $2 billion. The round was co-led by a16z crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, IOSG Ventures, and Variant.
Morpho enables institutions to customize on-chain lending markets and risk parameters. It has already attracted users including Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. The protocol currently holds approximately $6.6 billion in total value locked (TVL) and is accelerating its competition with traditional DeFi lending protocols such as Aave. Morpho also plans to expand further into high-yield DeFi asset allocation solutions sought by traditional financial institutions.
