Morpho's login to Sei marks a watershed event for institutional-level DeFi.

Currently, Sei's ecosystem puzzle is gradually becoming complete:

▌Circle provides stablecoin infrastructure

▌Ondo and Securitize are responsible for RWA tokenization

▌Apollo's ACRED and BlackRock's BUIDL fund provide institutional-level assets

▌Morpho completes the final piece—institutional-level lending services

This is not an ordinary L1, but rather an "institutional-level digital asset settlement layer."

Why is Morpho the one to complete this puzzle?

Aave focuses on the retail market, while Compound has been slow in institutionalization. Morpho, from the very beginning, has targeted institutions: managing over $12 billion in deposits, second only to Aave; through deep cooperation with Coinbase and http://Crypto.com, it has established a first-mover advantage.

The larger trend hidden behind these collaborations is the acceleration of traditional finance's migration to on-chain. BlackRock's BUIDL fund has surpassed $2 billion, Apollo's ACRED has cross-chain deployment, and Hamilton Lane's tokenized fund has also gone live. These trillion-dollar assets, once on-chain, will require lending, liquidity management, and risk hedging, which the existing DeFi infrastructure simply cannot support.

The combination of Morpho and Sei is essentially preparing the infrastructure for the transfer of trillion-dollar markets.

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