MORPHO 2026

Summary from the TLDR Crypto newsletter

Morpho scaled from 67,000 to 1.4M+ users in 2025, with deposits growing from $5B to $13B and active loans reaching $4.5B, powered by major institutional integrations including Coinbase's crypto-backed loans (DeFi's largest integration to date), plus Crypto.com, Gemini, Societe Generale Forge, and Bitget. RWA deposits surged from near-zero to $400M by Q3 2025, signaling accelerating institutional adoption. Most large institutions now have active DeFi teams and research, with 2026 expected to convert this interest into concrete deployment.