Multiliquid, an institutional liquidity protocol developed by Uniform Labs, has raised its total funding to $8 million after closing a seed round led by Polychain Capital, as the company looks to address liquidity challenges in the tokenized real-world asset (RWA) market.
Announced last week, the funding round also included Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures and Circle Ventures. The company did not disclose the size of the seed round or its valuation.
Multiliquid is building infrastructure that allows institutions to exchange supported tokenized investment products for stablecoins through onchain transactions. The aim is to reduce reliance on traditional redemption processes, which can take days and limit how quickly investors can access capital.
Tokenization allows assets such as US Treasury funds, money market funds and private credit investments to be represented on blockchain networks. However, issuing these assets onchain does not automatically guarantee that holders can sell them or convert them into cash whenever needed.
This is the problem Multiliquid is targeting. Here’s how:
What is Multiliquid trying to Solve
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.
However, liquidity remains an important challenge.
For example, an institution holding a tokenized money market fund may still need to follow the fund issuer’s redemption process before accessing its underlying cash. That delay can complicate treasury management, collateral movements and other time-sensitive financial operations.
Multiliquid’s protocol enables conversions between supported tokenized assets and stablecoins in a single atomic transaction. Atomic settlement means both sides of a transaction 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 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.
However, access to liquidity depends on supported assets, available capital and the conditions governing each conversion.
What else is the company building
Multiliquid’s broader offering includes products designed to help institutions manage liquidity and deploy capital into tokenized investments.
Uniform Labs lists Carry, a liquidity management platform for institutional capital allocators, and Liquid Treasury, which is 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. It is 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.
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The company has not publicly disclosed transaction volumes, assets settled or the number of institutional customers using its infrastructure.
As tokenization expands, Multiliquid is betting that investors will need more than blockchain-based ownership. They will also need reliable ways to move between yield-bearing investments and liquid assets without being constrained by traditional redemption timelines.
Sneha Agrawal 
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