Morpho Raises $175M from Paradigm, a16z, Ribbit for Onchain Credit Infrastructure
Blockchain-based lending protocol Morpho announced a $175 million funding round co-led by Paradigm, a16z crypto, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and Ledger Cathay. The round highlights growing institutional interest in onchain credit markets and blockchain-based financial infrastructure. Morpho operates an open credit network that enables institutions and fintech firms to build lending products on blockchain rails. It holds over $11 billion in deposits and serves clients including Bitwise, Galaxy, Anchorage Digital, Coinbase, Kraken, and Binance. The protocol aims to become foundational infrastructure for onchain credit markets, helping unify fragmented lending markets and support programmable credit products at scale. Unlike many crypto projects seeking to replace traditional finance, Morpho positions itself as an infrastructure provider working with existing institutions. The funds will be used to develop institutional lending infrastructure for programmable credit products.
Key facts
- Morpho raised $175M from Paradigm, a16z crypto, and Ribbit Capital.
- Protocol holds over $11B in deposits and serves major institutions.
- Morpho positions itself as infrastructure for onchain credit markets.
- Funds will develop institutional lending infrastructure.
- Unlike many crypto projects, Morpho works with existing institutions.