Crypto financial infrastructure company Morpho has raised $175 million in funding, led by a16z Crypto and Paradigm.

CoinFeed reported on June 9th that, according to Fortune, DeFi lending protocol Morpho has announced the completion of a $175 million funding round. The round was led by a16z crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and others. The investment was priced based on the Morpho token's average price over the past month, valuing the company at up to approximately $2 billion. Morpho allows institutions to customize lending markets and risk parameters on-chain and has already attracted users such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital.