Apollo Expands Crypto Strategy With Morpho Token Deal

Apollo Global Management is expanding its presence in crypto through a new agreement with the Morpho Association. The deal allows Apollo and its affiliates to purchase up to 90 million MORPHO tokens over four years, representing roughly 9% of the protocol’s total supply.

Morpho is a decentralized lending platform that supports onchain credit markets and curator-managed vaults. By acquiring tokens, Apollo gains governance influence while also supporting lending markets built on the protocol. The purchases may happen through open-market or over-the-counter deals.

This move follows Apollo’s earlier blockchain investments, including tokenized credit products issued through partners like Securitize and Anemoy. The development also mirrors a broader trend among major asset managers. BlackRock recently expanded its tokenized treasury fund and bought governance tokens in Uniswap.

Apollo’s latest step signals that traditional finance firms are increasingly exploring decentralized infrastructure, not just tokenized assets, as part of their long-term strategy.

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