Morpho Raises $50 Million in Funding to Enhance its Decentralized Lending Protocol
CryptoNewsTerminal Staff01 Aug, 2024
Morpho Raises $50 Million in Funding to Enhance its Decentralized Lending Protocol
Morpho, a decentralized lending protocol, has secured $50 million in Series A funding led by Ribbit Capital. Variant Fund, Defiance Capital, and Coinbase Ventures were among the other investors in the round. Morpho's protocol, built on the Ethereum blockchain, facilitates lending and borrowing of crypto assets. With this funding, Morpho plans to accelerate its protocol's development and grow its team, expanding its presence in the decentralized finance (DeFi) landscape.