TLDR
- Apollo to buy 90M MORPHO tokens over four years
- Deal gives Apollo up to 9% of governance supply
- Morpho expands DeFi ties with Bitwise and Coinbase
- Institutional push accelerates onchain credit growth
- Apollo deepens blockchain strategy amid DeFi surge
Apollo advanced its push into blockchain as it agreed to pursue a major governance stake in Morpho’s decentralized lending protocol. The firm outlined a structured plan to buy up to 90 million MORPHO tokens across four years. The move signaled a stronger commitment to onchain credit markets during a period of rapid institutional expansion.
Morpho Token Allocation Agreement
Apollo set clear terms that authorize its affiliates to acquire MORPHO tokens through market transactions and arranged purchases. The plan includes structured limits that cap holdings at 90 million tokens within a defined 48-month window. Morpho confirmed that the cooperation aims to strengthen lending markets that rely on its protocol.
The framework supports the development of risk-managed credit rails while ensuring compliance with transfer restrictions across all purchase methods. Apollo entered the arrangement as part of its broader strategy to expand digital asset exposure. Galaxy Digital UK served as Morpho’s exclusive adviser during the agreement process.
Market estimates place the full token allocation between $107 million and $115 million at recent mid-February prices. Morpho recognized that the allocation would equal 9% of its total governance supply. The arrangement positions Apollo as one of the most significant traditional finance participants in decentralized lending.
Morpho’s Expanding DeFi Partnerships
Morpho continued to broaden its ecosystem with several strategic alignments that advanced lending activity across multiple networks. Bitwise launched its initial onchain vault on Morpho in January 2026 and supported USDC yields near 6%. The initiative marked a notable expansion of institutional participation in non-custodial credit pools.
The protocol also integrated with the Flare blockchain to extend lending and borrowing to FXRP-linked assets. This rollout included curated vaults for FXRP, FLR, and USDT0 through the Mystic application. The move increased cross-chain access to Morpho’s established credit infrastructure.
Coinbase incorporated Morpho technology in 2025 to support large-scale crypto-backed lending. The integration enabled more than $960 million in active loans alongside sizable collateral flows. The collaboration expanded liquidity access for both retail and institutional users.
Apollo’s Growing Blockchain Footprint
Apollo expanded its digital focus last year with an investment in Plume, a project that builds tokenized financial infrastructure. The firm also advanced credit tokenization through offerings issued by Securitize and Anemoy across multiple strategies.These initiatives strengthened Apollo’s position in blockchain-based credit markets.
The company broadened its activity as asset managers increased testing of decentralized finance channels. BlackRock recently enabled onchain trading features for its tokenized treasury product on Uniswap.The development supported rising engagement between traditional financial groups and blockchain-native protocols.
Morpho maintained its status as a leading DeFi platform with more than $5 billion in total value locked. The release of Vaults 1.1 enhanced risk controls, while Morpho V2 remains a priority for 2026. Apollo’s agreement signaled rising confidence in the long-term potential of onchain credit systems.
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