Morpho Association raises $175 million for on-chain credit network

Morpho Association announced a $175 million funding round on 9 June, co-led by Paradigm, a16z crypto and Ribbit Capital. Apollo Funds, Circle Ventures, VanEck and Ledger Cathay were among strategic participants. The association supports Morpho, a blockchain-based lending network. It said proceeds would fund integrations and programmable credit infrastructure.

Morpho said its network had more than $11 billion in deposits and named institutional and exchange users. These are announcement figures, not loans outstanding or round proceeds. The raise signals investor appetite for DeFi infrastructure, while the ambition to serve banks and asset managers remains a development goal rather than evidence that it has displaced existing systems.