Apollo Global Management Expands Crypto Involvement with Morpho Token Agreement
- Apollo Global Management signed a cooperation agreement with the Morpho Association to purchase up to 90 million MORPHO tokens over four years.
- The deal could position Apollo as a major holder, representing 9% of the total governance token supply.
- Galaxy Digital UK served as the exclusive financial adviser for this agreement.
- In addition to token purchases, Apollo and Morpho will collaborate on supporting lending markets using the Morpho protocol.
- Apollo previously invested in blockchain project PLUME and has seen its credit strategies tokenized by third parties.
This agreement highlights Apollo’s commitment to expanding its presence in the cryptocurrency space, particularly in DeFi. The collaboration aims to enhance lending infrastructure through the Morpho protocol while contributing to Apollo’s growing blockchain portfolio.
With plans to acquire up to 90 million MORPHO tokens, Apollo is solidifying its role in decentralized finance initiatives alongside other major asset managers like BlackRock.(Source)
