Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Morpho Secures $50M in Funding, Led by Ribbit Capital

Morpho Secures $50M in Funding, Led by Ribbit Capital

morphomorpho2024/08/01 15:36
By:Morpho

Morpho is pleased to announce it has secured $50M from Ribbit Capital and other strategic partners to enhance the network’s decentralization and support its mission to make financial infrastructure a public good.

With this development, Morpho stands to benefit from a long list of industry leaders who not only share a vision of building finance like the early internet–via layered, open protocols–but will also actively contribute their expertise and resources to Morpho's growth and the network’s decentralization.

The potential impact of Morpho extends far beyond current DeFi markets, as the protocol is capable of becoming decentralized infrastructure to underpin a truly global, internet-native financial system. Ribbit Capital, a pre-eminent fintech investment firm, recognizes this potential, and its investment connects Morpho to Ribbit's global network of portfolio companies including Revolut, NuBank, Coinbase, Robinhood, Mercado Libre, Figure, and Uniswap.

There was also participation from a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, Kraken Ventures, Hack VC, IOSG, Rockaway, L1D, Semantic, Mirana, Cherry, Fenbushi, LeadBlock Bitpanda Ventures, Robot Ventures and 40+ others who will help guide the future of Morpho.

When Morpho first launched 2 years ago, its primary product was Morpho Optimizer, an optimization layer on top of Aave and Compound that improved interest rates for users. Since then, Morpho has evolved into independent financial infrastructure, inspired by the layered protocols of the early internet. Specifically, Morpho now consists of a set of purpose-built protocols layered on top of a shared base layer to form a network that fosters open innovation, resiliency, and value creation.

At the core of this new layered architecture is Morpho Blue, a permissionless, resilient, and primitive lending protocol that creates an open market for risk management and specialized products. Additional modular layers can be built on top to offer diverse risk profiles and more specialized forms of lending/borrowing while still sharing the same base layer. One example is Morpho Vaults, another layer of the Morpho Stack that empowers multiple independent operators to curate an endless range of scalable risk management strategies on top of Morpho Blue.

Morpho’s successful transition from application to infrastructure is evident by the rapid adoption of Morpho Blue. In just six months since launching on Ethereum, it surpassed $1.7B in total deposits, while the recent deployment on Base reached $120M in deposits in less than a month.

However, this is just the beginning. Morpho is in a position to expand its already-thriving ecosystem, provide grants to more active contributors, and ultimately become the most trusted infrastructure for any DeFi, institutional, or fintech lending application. Morpho was designed to serve all of these diverse use cases, and it's ready to go. If you’re inspired by the mission of making financial infrastructure a public good, come join us .

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Bitcoin ETFs See $83M Inflow, Ethereum Faces Outflows

Bitcoin spot ETFs gained $83M in inflows for 6 days straight, while Ethereum ETFs saw 13 days of outflows.Ethereum ETFs See Continued OutflowsShifting Investor Sentiment Between BTC and ETH

Coinomedia2025/03/22 16:55
Bitcoin ETFs See $83M Inflow, Ethereum Faces Outflows

South Korea’s Crypto Investors Surge Past 9.6M in 2024

South Korea's crypto investors hit 9.66 million in 2024, with 50+ age group dominating high-value holdings.Wealthy Individuals Lead the Crypto BoomFuture Outlook for South Korea’s Crypto Market

Coinomedia2025/03/22 16:55
South Korea’s Crypto Investors Surge Past 9.6M in 2024

Bernstein Slashes 2025 Outlook for BTC Miners

Bernstein cuts 2025 price targets for Bitcoin miners IREN, CleanSpark, and Riot, citing weak performance and AI-driven investor shift.AI and High-Performance Computing Steal the SpotlightOutlook for Bitcoin Miners in 2025

Coinomedia2025/03/22 16:55
Bernstein Slashes 2025 Outlook for BTC Miners