Multiliquid, an institutional liquidity protocol developed by Uniform Labs, has raised $8 million in a seed funding round led by Polychain Capital. Other participants in the round included Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures, and Circle Ventures. The company did not disclose the specific size of the seed round or its valuation.
The protocol addresses a key challenge in the tokenized real-world asset (RWA) market: enabling faster access to capital. Multiliquid's infrastructure allows institutions to exchange supported tokenized investment products for stablecoins through onchain transactions, reducing reliance on traditional redemption processes that can take days to complete.
The Liquidity Problem in Tokenized Assets
Tokenization enables assets such as US Treasury funds, money market funds, and private credit investments to be represented on blockchain networks. However, asset holders often remain bound by the issuer's redemption process when converting tokenized assets back to cash, creating delays that complicate treasury management and time-sensitive financial operations.
According to RWA.xyz, the distributed tokenized real-world asset market stood at approximately $39 billion on October 26, 2026, excluding stablecoins. The growing market has attracted financial institutions seeking to bring traditional investment products onto blockchain networks.
How Multiliquid Works
Multiliquid's protocol enables conversions between supported tokenized assets and stablecoins in a single atomic transaction, where both sides execute together or the transaction does not complete. The protocol uses net asset value (NAV)-based pricing for eligible assets, tying conversion prices to the underlying fund's reported value. Its infrastructure is currently live on Ethereum and Solana.
The company supports tokenized investment products associated with asset managers including Wellington Management, VanEck, Janus Henderson, and Fasanara, alongside stablecoins such as USDC. Access to liquidity depends on supported assets, available capital, and the conditions governing each conversion.
Broader Product Offerings
Multiliquid's broader offering includes Carry, a liquidity management platform for institutional capital allocators, and Liquid Treasury, designed to move idle stablecoin balances into tokenized Treasury and money market funds. The company has also worked with Metalayer Ventures on an institutional liquidity facility on Solana aimed at facilitating conversions between USDC and eligible tokenized investment products.
Multiliquid plans to use its funding to develop the protocol, expand liquidity and trading partnerships, and integrate additional tokenized cash and Treasury products. The company has not publicly disclosed transaction volumes, assets settled, or the number of institutional customers using its infrastructure.
