- DeFi lending protocol Morpho has raised $175 million, led by Paradigm and Andreessen Horowitz.
- The platform, which manages $11 billion in deposits, is used by Coinbase, Binance, and Société Générale.
- This major investment highlights enduring institutional confidence in DeFi, despite recent high-profile sector exploits.
- The funds will fuel infrastructure development and commercial partnerships to build a global “open credit network.”
The decentralized lending platform Morpho has secured a massive $175 million in funding this week, a vote of confidence from top venture firms for curated lending vaults. This capital influx, among the largest-ever for a DeFi protocol, signals persistent demand for advanced financial infrastructure despite sector turmoil.
Co-led by Paradigm and Andreessen Horowitz with Ribbit Capital, the round also attracted strategic backing from Apollo Funds, Circle Ventures, and VanEck, according to the platform’s announcement. Consequently, the protocol now boasts $11 billion in user deposits and has been adopted by industry giants including Coinbase and Binance.
French banking giant Société Générale is already building on Morpho, which aims to become a shared credit layer for banks and fintechs. “We’re building the open credit network for the world, connecting those with excess capital to those who need financing, globally,” co-founder Paul Frambot stated.
This fundraising milestone arrives amidst a challenging period for DeFi, marked by multi-million dollar exploits. However, Morpho plans to direct the new capital toward infrastructure development and commercial integrations.
Meanwhile, volatility has led to increased user liquidations on platforms like Coinbase, which uses Morpho. Roughly 2,900 Coinbase customers faced liquidations recently, data shows, as Bitcoin prices fell sharply.
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