Morpho Raises $175M at $2B Valuation, Led by a16z Crypto and Paradigm

MORPHO3.16%
AAVE-2.76%
According to Fortune, DeFi lending protocol Morpho raised $175 million at a $2 billion valuation today, with a16z crypto, Paradigm, and Ribbit Capital leading the round. Apollo Funds, Circle Ventures, and VanEck also participated. Morpho enables institutions to customize on-chain lending markets and risk parameters, and currently counts Coinbase, Kraken, Anchorage Digital, and Galaxy Digital among its users. The protocol has approximately $6.6 billion in total value locked and is intensifying competition with traditional DeFi lending protocols like Aave.
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