Asset manager Apollo Global Management has deepened its involvement in decentralized finance, signing a cooperation agreement with the Morpho Association. The deal allows Apollo and its affiliates to acquire up to 90 million Morpho tokens over the next four years.

This purchase would represent a 9% stake in the DeFi lending protocol's total governance token supply, marking a significant move by a major Wall Street player into DeFi governance. Beyond the token acquisition, the partnership will focus on co-developing and supporting on-chain lending markets built on the Morpho protocol. The specific details of the collaboration have not been fully disclosed.

This development signals a broader trend of institutional adoption within the crypto space, moving beyond passive investments and into active protocol-level participation. It follows similar moves by other financial giants, underscoring a growing confidence in the future of on-chain financial infrastructure.

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https://morpho.org/blog/morpho-association-announces-cooperation-agreement-with-apollo/