Multiliquid and Metalayer Ventures have unveiled a new institutional liquidity facility aimed at solving one of the biggest challenges in onchain real-world asset markets: slow and uncertain redemptions. The new setup allows institutional investors to convert tokenized real-world assets into stablecoins instantly on the Solana blockchain, offering a backstop during periods of high redemption demand.
The launch marks an important step toward building financial infrastructure for tokenized markets that more closely resembles traditional finance, where liquidity support systems are well established.
A Liquidity Solution for Tokenized Assets
The newly launched facility is designed to act as an instant liquidity layer for tokenized RWAs. Investors holding eligible onchain assets can redeem their positions immediately into stablecoins, rather than waiting for traditional settlement windows or relying on secondary market buyers.
Metalayer Ventures has raised and manages the capital that backs the redemption process. Multiliquid, through infrastructure built by Uniform Labs, provides the smart contract framework that handles pricing, compliance checks and settlement onchain.
According to the companies, this structure is meant to remove friction that has limited broader institutional participation in tokenized assets.
Bringing Familiar Financial Tools Onchain
Uniform Labs founder and CEO Will Beeson said tokenized markets have long lacked the basic liquidity mechanisms that exist in traditional finance.
In conventional markets, institutions rely on repo desks, prime brokers and overnight lending facilities to manage short-term liquidity needs. Tokenized markets, despite rapid growth, have not had comparable systems in place. The new redemption backstop is intended to fill that gap and support large-scale institutional activity in RWAs.
The move comes as regulators and financial bodies continue to flag liquidity risks in tokenized products. Last year, the Bank for International Settlements warned that tokenized money market funds could face liquidity mismatches, especially during periods of market stress when many investors seek redemptions at once.
How the Standing Buyer Model Works
At the core of Metalayer’s facility is a standing buyer model. Instead of relying on ad hoc market demand, the vehicle continuously stands ready to purchase supported tokenized RWAs.
Assets are bought at a dynamic discount to net asset value, reflecting market conditions and risk. This allows investors to exit positions instantly, while the facility assumes the responsibility of holding or later unwinding the assets.
Metalayer Ventures oversees capital deployment and risk management, while Multiliquid’s smart contracts automate pricing logic, enforce compliance rules and ensure settlements occur smoothly on Solana.
Initial Asset Coverage and Issuers
At launch, the facility supports tokenized assets issued by established financial players, including VanEck, Janus Henderson and Fasanara. These include tokenized US Treasury funds and select alternative investment products.
By focusing on recognized issuers and relatively conservative asset classes, the partners aim to build early confidence in the redemption system before expanding to a wider range of tokenized instruments.
Solana’s Growing Role in RWAs
The launch also highlights Solana’s increasing presence in the real-world asset sector. While still smaller than other networks, Solana has been gaining momentum as a venue for tokenized financial products.
According to data from RWA.xyz, Solana currently ranks eighth among blockchains by total tokenized RWA value, with around $1.2 billion spread across 343 assets. Its overall market share stands at about 0.31 percent, but total RWA value on the network has grown by more than 10 percent over the past month.
By comparison, the Canton Network dominates the sector with more than $348 billion in tokenized assets and over 88 percent market share. Ethereum ranks second with roughly $15 billion in RWAs, followed closely by Provenance with a similar total value but fewer individual assets.
Looking Ahead
As tokenized real-world assets continue to attract interest from asset managers, banks and institutional investors, liquidity infrastructure is becoming a critical requirement rather than a nice-to-have feature. Instant redemption mechanisms like the one launched by Multiliquid and Metalayer Ventures could play a key role in making onchain markets more resilient during periods of stress.
If successful, the model may set a precedent for how future tokenized markets handle redemptions, risk and institutional-scale liquidity.
