Multiliquid, Metalayer launch instant redemption backstop for RWAs on Solana

Multiliquid and Metalayer Ventures have launched an institutional liquidity facility to provide instant redemptions for tokenized real-world assets (RWAs) on Solana.

The facility allows holders of tokenized assets to convert positions into stablecoins instantly. The vehicle is raised and managed by Metalayer Ventures, with infrastructure and market support provided by Uniform Labs, the developer behind the Multiliquid protocol, according to an announcement shared with Cointelegraph.

“Traditional finance has repo markets, prime brokerage and overnight lending facilities. Tokenized markets have had nothing comparable, until now,” said Will Beeson, founder and CEO at Uniform Labs. “This is the liquidity infrastructure that institutional RWA markets will require at scale.”

Last year, the Bank for International Settlements warned that tokenized money market funds face liquidity mismatches that could amplify stress during periods of elevated redemption demand.

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Standing buyer delivers instant RWA liquidity

Metalayer’s facility functions as a standing buyer of tokenized RWAs, purchasing assets at a dynamic discount to net asset value.

Metalayer Ventures supplies and manages the capital backing redemptions, while Multiliquid provides the smart contract infrastructure used for pricing, compliance enforcement and settlement.

The vehicle will initially support tokenized assets issued by companies including VanEck, Janus Henderson and Fasanara, covering tokenized Treasury funds and select alternative investment products.

Related: True tokenization demands asset composability, not wrapped bubbles

Solana gains ground in tokenized RWAs

Solana (SOL) has emerged as a growing venue for tokenized RWAs. It ranks eighth among blockchains by total RWA value with about $1.2 billion represented across 343 assets, according to RWA.xyz data. While its market share remains modest at 0.31%, Solana is showing steady momentum, with RWA value up by more than 10% in the past month.

Canton Network, Ethereum (ETH) and Provenance are the three largest blockchains for tokenized RWAs by total value.

Canton dominates the market with more than $348 billion in RWAs and over 88% market share. Ethereum ranks second with $15 billion in tokenized assets, while Provenance also holds $15 billion with fewer assets.

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