Wormhole (w) 
Decentralized crypto lender Morpho has announced a $50 million strategic round backed by a16z and Coinbase Ventures among other top crypto venture capital firms.
On August 1, 2024, Morpho disclosed that Ribbit Capital, an early-stage VC investor with a portfolio that includes Robinhood, Revolut, Coinbase, NuBank, and Mercado Libre, led the funding round.
Funding Key to Morpho Growth, CEO Says
Morpho will use the strategic funding to bolster its network’s decentralization. The funds will also support global growth for financial infrastructure as a public good, according to Morpho CEO Paul Frambot. Support from these top venture capital firms is crucial for the protocol’s continued growth within the decentralized finance space.
Two years since its launch, Morpho has evolved significantly. Initially starting as an optimization layer for interest rates on Aave and Compound, dubbed Morpho Optimizer, the platform has now developed into Morpho Blue, a layered architecture that allows for the building of lending protocols with built-in risk management features. The funding will provide an opportunity for Morpho to thrive by extending grants to active contributors helping to build its DeFi infrastructure.
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,” Frambot noted.
a16z, Coinbase Ventures Back Morpho
Besides Ribbit Capital, Morpho Labs’ latest funding round attracted participation from some of the biggest VC firms in the crypto market. These include Andreessen Horowitz, Coinbase Ventures, Pantera Capital, Variant, Brevan Howard, and BlockTower.
This strategic funding round follows the $18 million financing round Morpho Labs secured in July 2022, led by a16z and Variant.
Stay updated on the latest in the world of cryptocurrencies and finance. Explore more news and insights at Global Crypto News.
