The American investment firm Apollo Global Management and the French non-profit organization Morpho Association have announced a strategic partnership aimed at developing lending markets based on the Morpho protocol.
This is reported by Finway
Details of the Agreement Between Apollo and Morpho Association
According to the signed agreement, Apollo Global Management and its affiliated companies plan to acquire up to 90 million MORPHO tokens over the next four years. The acquisition will occur through both over-the-counter transactions and on the open market. It is noted that the agreement is intended to support the development of lending markets within the Morpho ecosystem, facilitate infrastructure expansion, and enhance asset liquidity. Other details, including the purchase price of the tokens for Apollo, remain undisclosed.
The goal of the agreement is to support lending markets within the ecosystem. Other terms of the agreement, including the token price for Apollo, are not disclosed.
Impact on the MORPHO Market and Apollo’s Role
Following the announcement of the collaboration, the price of the MORPHO token showed significant growth. On the daily chart, the price rose by 5.5%, and over the week, the asset appreciated by 21.5%. At the time of preparing this material, MORPHO was trading at $1.4.
If Apollo completes the entire acquisition, its share of the total MORPHO supply will reach about 9%. This will allow the company to influence key decision-making in the project, but it will not ensure monopolistic control.
Morpho Association is a French non-profit organization dedicated to supporting and developing the eponymous project. The MORPHO token serves a governance function. The Morpho protocol provides the infrastructure for creating and operating lending markets on the Ethereum network and EVM-compatible blockchains, as well as managing vaults for asset distribution between these networks. The protocol is governed by the holders of MORPHO tokens.
It is worth noting that Morpho Association has previously collaborated with leading companies in the cryptocurrency market. In particular, the Coinbase platform launched Bitcoin-backed loans using Morpho’s infrastructure.