Morpho raises $175M led by Paradigm, a16z crypto and Ribbit to build DeFi–TradFi credit network
Morpho Association said on July 3, 2026 it raised $175 million in a funding round led by Paradigm, a16z crypto and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, Ledger and others. The money will be used to build an open credit network designed to connect decentralized finance (DeFi) with traditional finance (TradFi). The project is targeting institution-grade lending infrastructure rather than consumer credit products. The announcement also referenced native token symbols M and MM, without detailing their functions or token economics.