Apollo Global Management, a leading asset management company, has signed a strategic partnership agreement with on-chain lending protocol Morpho Association. Apollo, which manages approximately $900 billion in assets, will be able to purchase up to $90 million. $Morpho Tokens over 4 years.
Under this Agreement, Apollo or its affiliates: $Morpho Acquire tokens through open market purchases, over-the-counter (OTC) trading, and other contract methods. However, these purchases are limited to a 48 month period and the total ownership cannot exceed 90 million $Morpho token. Transfer and transaction restrictions also apply.
Following this development, the price $Morpho Tokens increased by 17%.
24-hour chart showing the increase in $Morpho price.
Both parties will cooperate in developing and supporting an on-chain credit market on the Morpho Protocol. This partnership is notable as it strengthens the integration of traditional financial giants with decentralized finance (DeFi) infrastructure.
Galaxy Digital UK Limited acted as exclusive financial advisor to Morpho on this agreement.
Morpho operates as an open network that provides the infrastructure for the on-chain lending market. The protocol provides a curated vault that manages the distribution of assets across various credit markets. Who rules Morpho? $Morpho token holder.
*This is not investment advice.
