Morpho Labs raises $18 million in Funding Round
Morpho Labs' decentralized lending protocol has raised $18 million in a funding round jointly led by Andreessen Horowitz (a16z) and Variant with the participation of 80 other investors.
Morpho is designed to connect to existing lending protocols such as Compound and Aave to offer higher returns through peer-to-peer liquidity. According to the company, Morpho-Compound was launched a few weeks ago and has accumulated $30 million in liquidity. Morpho-Aave will be launched in the coming weeks.
"Morpho is a completely new type of credit primitive that directly matches suppliers and borrowers and is directly at the top of credit pools such as Aave and Compound, opening rates that are competitive both in-chain and off-chain," Variant Fund general partner Spencer Noone said in the announcement.
"If successful, we believe that it can become the coordinating layer of a new global and decentralized financial system."
A16z has become the largest investment firm in the crypto space with the launch of a $4.5 billion fund in May.
https://coin-signal.com/cryptonews/morpho-labs-raises-18-million-in-funding-round/
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