Standard Chartered Sets $60 MORPHO Target, Sees Token Beating BTC and ETH

TLDR

• Standard Chartered set a $60 MORPHO price target for 2030.
• The bank said MORPHO could outperform Bitcoin and Ethereum.
• Morpho Markets holds about $5.5B in deposits.
• Morpho Vaults holds about $4.3B in assets.
• Robinhood Earn uses Morpho as its credit network.

Standard Chartered initiated coverage of Morpho with a $60 price target by the end of 2030, saying the DeFi lending protocol could outperform Bitcoin and Ethereum over the same period.

The bank’s forecast implies roughly 33x upside from MORPHO’s price near $2.13 at the time of the report. MORPHO rose more than 13% over 24 hours after the coverage note drew attention to its lending markets, vault infrastructure, and institutional growth path.

Geoff Kendrick, Standard Chartered’s global head of digital assets research, said Morpho is positioned to benefit as assets deployed in DeFi expand through 2030.

Standard Chartered Lays Out MORPHO Price Path

Standard Chartered set a staged forecast for MORPHO through the end of the decade. The bank projected the token at $3.50 in 2026, $11 in 2027, $22 in 2028, $40 in 2029, and $60 by the end of 2030.

The forecast is based on the bank’s view that Morpho can scale with broader DeFi growth. Standard Chartered expects assets deployed across DeFi to rise 37-fold by 2030.

The statement reflects the bank’s view and remains dependent on DeFi growth, liquidity, and institutional adoption. The bank said Morpho’s recent $175 million venture funding round gives the protocol more financial flexibility as it expands its lending and infrastructure products.

Morpho Markets and Vaults Drive Forecast

Standard Chartered said Morpho operates through two main businesses. Morpho Markets is its lending protocol, while Morpho Vaults provides infrastructure for on-chain asset management and banking products.

Morpho Markets currently holds about $5.5 billion in deposits. The bank said this makes the lending business roughly one-quarter the size of Aave by deposits.

Morpho Vaults holds about $4.3 billion in assets. The vaults allow curators and institutions to build lending products using Morpho’s credit infrastructure.

The bank said this dual model gives Morpho a different position in DeFi. It combines direct lending markets with tools that can support on-chain banks, asset managers, and tokenized asset platforms.

Institutional Capital Remains Key Test

Standard Chartered said Morpho’s long-term growth depends on whether its Vaults business can attract more institutional capital. Custody and distribution links with Fireblocks, Anchorage, and Taurus were cited as possible support points.

Vault curators such as Steakhouse Financial may also play a key role. Steakhouse manages nearly $2 billion in assets and helps direct capital across Morpho-based lending markets.

Morpho currently operates with a 0% protocol take rate. This means lending income flows to depositors through its vault structures, rather than being captured by the protocol.

That model differs from Aave and Uniswap, which have introduced or discussed protocol fee systems. Standard Chartered’s forecast assumes Morpho can grow scale before changing its revenue structure.

Robinhood Earn Adds Retail Distribution

Morpho has also gained attention through Robinhood Earn, a lending product using USDG, a dollar-backed stablecoin. Morpho acts as the underlying credit network, while Steakhouse Financial curates the vault infrastructure.

USDG supplied through Robinhood Earn is deposited into a Morpho Vault and allocated across Morpho Markets. Borrowers provide collateral from protocols including Spark, Ethena, and Maple to borrow USDG.

Paul Frambot, co-founder of Morpho, said, “Robinhood is the platform that made investing accessible to a generation, and we are very excited to partner with them.”

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