Morpho hits record $4.1 billion in USDC deposits

The onchain lending protocol's USDC balance grew 40% in three months, helped by Coinbase and Robinhood integrations USDC deposits on Morpho have climbed to a record $4.1 billion , a new high for the onchain lending protocol. The milestone matters because of where it lands. Stablecoins are the cash drawer of decentralized finance. Whoever holds the biggest drawer tends to set the terms for borrowing. Morpho announced on November 5, 2026, that USDC deposits had crossed the $4 billion mark. The figure reflects 40% growth over the prior three months.