Specializing in alternative asset management and managing $938 billion in assets, Wall Street firm Apollo Global Management continues to deepen its presence in cryptocurrency and DeFi. The latest news indicates that Apollo has reached a partnership with DeFi lending protocol Morpho, allowing the purchase of up to 90 million MORPHO tokens over the next four years.
According to the cooperation agreement signed by both parties, Apollo and its affiliates can acquire MORPHO tokens through various methods such as open market purchases and over-the-counter (OTC) trades, but must adhere to token holding limits and transfer restrictions.
The document also states that Galaxy Digital UK served as Morpho’s exclusive financial advisor for this transaction.
The 90 million tokens represent 9% of the total MORPHO token supply. If fully allocated, this means Apollo will have substantial influence over the protocol’s governance.
This partnership is not limited to token investment. Apollo and Morpho also announced that they will jointly support on-chain lending markets built on the Morpho protocol.
In fact, this deal is just one part of Apollo’s recent expansion into blockchain. Last year, Apollo invested seven figures in PLUME, a project focused on bringing traditional financial products onto the blockchain.
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