Morpho Expands Onchain Credit with Midnight Protocol

Morpho has launched 'Morpho Midnight' on the Base network, an offer-based lending protocol that allows users to set specific rates, maturities, and collateral requirements. This complements the existing Morpho Blue variable-rate lending platform. Major institutions are already integrating the service, with Coinbase utilizing Morpho Blue for over $1.4 billion in loans and Robinhood reporting over $250 million in Earn deposits supporting Midnight's fixed-rate offerings. Morpho raised $175 million in June 2026 to support its credit market expansion.