Morpho is a protocol foundation firm based in Paris, France that morpho is a decentralized, non-custodial lending protocol built by morpho labs and stewarded by the morpho association, based in paris. it is a modular lending stack: morpho blue provides immutable isolated lending markets, and morpho vaults let curators allocate deposits across those markets. the protocol has grown to more than 13 billion dollars in deposits and over 4.5 billion dollars in active loans, and it powers crypto-backed loans for coinbase, crypto.com, gemini and societe generale forge. morpho supports real-world assets as collateral, including tokenized us treasuries and credit funds. its morpho governance token launched in late 2024. They serve clients in France, Global. Morpho is listed on The Token Playbook's vetted provider registry at thetokenplaybook.com/registry/morpho.