Blockchain Lender Morpho Raises $175 Million in Round Led by a16z crypto and Paradigm

Morpho is a non-custodial blockchain lending protocol that allows institutions and investors to supply or borrow assets directly onchain, with the goal of bringing global credit markets onchain. Deposits have surpassed $11 billion, and the protocol has been adopted by Bitwise, Galaxy and Anchorage Digital, signaling that DeFi is gradually becoming part of the institutional financial infrastructure.

Morpho said on June 9, 2026, that it had raised $175 million in a round co-led by Paradigm, a16z crypto and Ribbit Capital, pushing its valuation above $2 billion. Apollo, Circle Ventures, VanEck and other institutions also participated. The funds will be used to expand its open onchain credit network.