Morpho raised $175 million led by Paradigm, a16z crypto, and Ribbit Capital.

On June 9, the lending protocol Morpho announced it had raised $175 million in a funding round led by Paradigm, a16z crypto, and Ribbit Capital. According to CoinDesk, the platform hosts over $11 billion in deposits, with institutional clients including Galaxy, Anchorage Digital, and Bitwise. The funds will be used to develop infrastructure for institutional lending and programmable credit products.