PANews reported on June 9th that, according to Fortune, DeFi lending protocol Morpho has completed a $175 million funding round. The round was led by a16z crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, and VanEck. The investment was priced based on Morpho's token 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 from Coinbase, Kraken, Anchorage Digital, and Galaxy Digital. The protocol has approximately $6.6 billion in total value locked and is accelerating its competition with traditional DeFi lending protocols like Aave, with plans to further expand into high-yield DeFi asset allocation sought by traditional financial institutions.