paul interview

Morpho's Paul Frambot on how immutable infrastructure, not DAO governance, is the real path to bringing global lending markets to everyday borrowers. Nexo is the premier digital wealth platform. Receive interest on your crypto, borrow against it without selling, and trade a range of assets. Now available in the U.S with 30 days of exclusive privileges. Get started at nexo.com/unchained Morpho has processed over $2 billion in loans through Coinbase alone, attracted Apollo Global Management as a token buyer, and built lending infrastructure that now runs on nearly 40 chains. Yet its co-founder and CEO, Paul Frambot, insists Morpho is not a lender and never will be. The protocol is immutable. No one controls it. There is no labs entity, no sprawling DAO voting on thousands of risk parameters. What Morpho offers instead is a configurable stack that anyone, from Bitwise to a traditional fintech, can use to build their own non-custodial lending market. In this conversation, Frambot explains what it actually takes to build a DeFi mullet product that works, why variable rates are still the single biggest barrier to mainstream borrowing, and what it would mean to have AI agents become the majority of users on a lending protocol. New timestamps: 🏗️ 0:28 How Morpho works as infrastructure, not a lending operator 🪙 3:19 Whether the Coinbase integration met early expectations 💼 5:59 How the Bitwise vault deal differs from the Coinbase arrangement 🏦 8:21 What the Apollo token acquisition signals for TradFi adoption 🔧 10:56 What makes a DeFi mullet product succeed or fail 📈 14:31 Why Morpho V2 introduces fixed-rate, fixed-term lending ⚖️ 24:20 How Morpho's governance model differs from competitors like Aave 🤖 31:09 Whether AI agents are already using Morpho and what's next _______________________________________________________ #bitcoin #ethereum #crypto #cryptocurrencies ++++++++++++++++++++++++++++++++++++++++++++++++ Subscribe to our channel! Website → https://unchainedcrypto.com Unchained Daily Newsletter (FREE!)→ https://unchainedcrypto.beehiiv.com/subscribe/ Unchained X → https://x.com/unchained_pod Apple → https://podcasts.apple.com/us/podcast/id1123922160?ls=1 Spotify → https://open.spotify.com/show/1cJrrfGY1SKBIRn5noKSAf?si=6SI4qIcRTEO7EhOe0V9n4w RSS Feed → https://feeds.megaphone.fm/LSHML4761942757 Unchained: Your no-hype resource for all things crypto!