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Morpho Raises $175M To Scale Onchain Credit
Morpho announces a raise from industry participants to expand global credit and help it move onchain.
Global credit is coming onchain (Raja Sen / Unsplash)
Morpho has raised $175M in a new round.
Morpho has announced it has successfully secured $175M from the industry to build out its vision for global onchain credit. This was led by Ribbit Capital, Paradigm, A16ZCrypto, with more participation from SBI Group, Apollo, Variant Fund, Van Eck, Hashkey Capital, and others.
In a blog, Morpho Cofounder Paul Frambot commented:
“The true value of finance has always been held back by dated infrastructure, fragmented systems, and extractive intermediaries. We started Morpho to change that. We’re building the open credit network for the world, connecting those with excess capital to those who need financing, globally.”
This comes after the Morpho team had released their Midnight Whitepaper, reframing the technical and strategic roadmap narrative for the protocol from just decentralized lending to tackling both sides of the financial system via open infrastructure for credit markets.
Over the last several months, Morpho has helped several large digital asset companies and institutions to integrate exposure to onchain lending and borrowing pools as part of their stablecoin earn product rollouts.
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