Multiliquid and Metalayer Ventures have launched an institutional liquidity facility designed to provide instant redemptions for tokenized real-world assets (RWAs) on the Solana blockchain. The facility acts as a standing buyer, allowing holders of tokenized assets to convert their positions into stablecoins instantly, addressing a critical liquidity gap in the tokenization market.
The vehicle is raised and managed by Metalayer Ventures, which supplies and manages the capital backing the redemptions. The smart contract infrastructure, used for pricing, compliance enforcement, and settlement, is provided by Uniform Labs, the developer behind the Multiliquid protocol. "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."
The launch comes as the Bank for International Settlements has warned that tokenized money market funds face liquidity mismatches that could amplify stress during periods of high redemption demand. The facility purchases tokenized RWAs at a dynamic discount to their net asset value (NAV).
Initially, the facility will support tokenized assets issued by companies including VanEck, Janus Henderson, and Fasanara, covering tokenized Treasury funds and select alternative investment products. Integrations with Solana DeFi protocols like Kamino are reportedly under discussion.
The development underscores Solana's growing role in the RWA sector. According to RWA.xyz data, Solana ranks as the eighth-largest blockchain by total RWA value, with about $1.2 billion represented across 343 assets. While its market share is currently 0.31%, Solana's RWA value has grown by more than 10% in the past month. Nick Ducoff, head of institutional growth at the Solana Foundation, stated that reliable redemptions are becoming "critical infrastructure" as Solana's RWA market scales.
