Multiliquid and Metalayer Ventures have launched a facility that allows instant redemption (liquidity) for tokenized real-world assets (RWAs) on Solana.
In a press release shared with CryptoNews, the firm said the facility is positioned as the first dedicated vehicle intended to solve one of tokenization’s most persistent challenges: liquidity at redemption.
Raised and managed by Metalayer Ventures with support from Uniform Labs, it is designed to scale over time based on market feedback and performance, offering a blueprint for future redemption-liquidity deployments across tokenized markets.
The RWA Liquidity Gap
The launch comes as Solana’s tokenized RWA ecosystem surpasses $1 billion in on-chain assets, making it the third-largest blockchain network for tokenization.
Despite rapid growth, much of the RWA market—particularly non-Treasury assets such as private credit, private equity, and real estate—remains structurally illiquid. Redemptions are typically limited to issuer-controlled windows, rather than continuous secondary markets.
This mismatch is becoming more visible even in ostensibly “cash-like” products. The Bank for International Settlements has warned that tokenized money market funds face liquidity mismatches between on-chain instruments and off-chain settlement, a dynamic that could amplify stress during periods of elevated redemption demand.
“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 of Uniform Labs.
How the Facility Works
Metalayer Ventures acts as the capital provider, raising and managing the pool of capital that allows instant redemptions. Multiliquid—developed by Uniform Labs—supplies the smart contract infrastructure, issuer relationships, and liquidity platform that underpin pricing, compliance enforcement, interoperability, and swaps.
Instead of waiting days or weeks for issuer-led redemptions, holders can convert supported tokenized assets into stablecoins instantly, 24/7. The facility purchases assets at a dynamic discount to net asset value (NAV), compensating liquidity providers for offering immediate access to capital.
Institutional-Grade Infrastructure on Solana
Uniform Labs expects a two-layer liquidity ecosystem to emerge: active market participants pricing real-time exits, and larger balance-sheet allocators warehousing assets to redemption for steadier yield.
The model is expected to gain traction as tokenized assets are increasingly used as collateral across DeFi and institutional venues.
The facility will initially support assets from issuers including VanEck, Janus Henderson, and Fasanara, spanning tokenized Treasury funds and select alternative assets. Integrations with Solana DeFi protocols such as Kamino are under discussion.
Nick Ducoff, head of institutional growth at the Solana Foundation, said reliable redemptions are becoming “critical infrastructure” as Solana’s RWA market scales, positioning the network as a leading venue for issuance, trading, and redemption of tokenized assets.
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