Morpho Labs has introduced a new product vertical named Morpho Prime, aimed at enhancing decentralized finance (DeFi) offerings. Morpho's strategy, referred to as the 'DeFi Mullet,' combines traditional product offerings with DeFi functionalities, exemplified by the recent integration of Bitcoin-backed loans by Coinbase. This integration has reportedly generated approximately $100 million in Bitcoin from Coinbase customers borrowing USDC on-chain. Additionally, Morpho Labs has announced partnerships with various platforms, including Compound Finance, which is now building on Morpho, and SeamlessFi, which is migrating from an Aave V3 fork to Morpho. Furthermore, TacBuild is set to create mini apps for Telegram's user base exceeding 1 billion. These developments are expected to significantly enhance capital flow into on-chain protocols.