Morpho raises $175M at $2B valuation for institutional DeFi push

Morpho Association raised $175 million in funding from investors, led by Paradigm, a16z Crypto, and Ribbit Capital. The funding valued Morpho at about $2 billion and will support technical development, commercial integrations, and wider use of its open credit infrastructure. The network already has over $11 billion in deposits and is used by major finance firms in DeFi credit. The project aims to connect capital providers with borrowers without relying on fragmented lending infrastructure. The funding will be used to deepen integrations with banks, fintechs, asset managers, and crypto platforms, with the long-term goal of providing shared infrastructure for creating credit products.