Morpho Effect: October 2025

Insights of the month

Institutions are coming onchain, and they are building, FAST.

Private credits are coming onchain, Apollo (via Gauntlet), Fasanara (via Steakhouse) and a flurry of RWAs on Plume (via MEV Capital) are using Morpho to run levered yield strategies.

Read more about the RWA Playbook on Morpho by Merlin.

Vaults are going to be the infrastructure for funds of tomorrow – if stablecoins are onchain checking accounts, vaults will be everyone’s onchain savings account.

With regulated banks like Societe Generale already building on Morpho.

TL;DR

🔹 Ethereum trusts the Morpho ecosystem with 2400 ETH and ~$6M stablecoins

🔹 Coinbase DeFi Lend powered by Morpho available to US users (exl. NY) with $350M in supply in the first 2 months

🔹 Crypto.com soon to launch Morpho-powered lending and borrowing DeFi Mullet integration

🔹 Morpho app integrates Hyperliquid, the 3rd largest chain on Morpho

🔹 Morpho hosts the first-ever Vault Summit during Devconnect 2025

Highlights

Ethereum Foundation trusts Morpho

Coinbase DeFi lending, powered by Morpho

DeFi Mullet Arc activated: Crypto.com will be launching its lending and borrowing product suite on Morpho

After 600M+ total deposits attracted by Felix and Hyperbeat, HyperEVM is officially supported in the Morpho App

Morpho is hosting the 1st ever Vault Summit during Devconnect

Introducing: Morpho Customer Stories page

Product Updates

Introducing the 1st and 2nd ever Morpho Vaults V2

Morpho SDK: integrate Morpho in days, not weeks or months

Customize the Explore page exactly the way you want it

The curator page is now live on the Morpho App

See how your positions stand against other markets and vaults

What are they saying about Morpho?

What do the numbers say?

Morpho on Base is the largest DeFi protocol by Total Deposits among any L2

Agglayer Vaultbridge yield = 📈 

Active Loans on Base now over $1B

Ecosystem updates

Closing thoughts

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