Multiliquid and Metalayer Ventures have launched an institutional liquidity facility to provide immediate redemptions for tokenized real-world assets (RWAs) on Solana.
This facility allows holders of tokenized assets to instantly convert positions into stablecoins. The vehicle will be founded 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 financial markets have had 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. “This is the liquidity infrastructure that institutional RWA markets will need at scale.”
Last year, the Bank for International Settlements warned that tokenized money market funds face liquidity mismatches that could increase stress during periods of increased demand for redemption.
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A regular buyer provides immediate RWA liquidity
Metalayer’s facility acts as a permanent buyer of tokenized RWAs, purchasing assets at a dynamic discount to net asset value.
Metalayer Ventures provides and manages the capital-supporting 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 such as VanEck, Janus Henderson and Fasanara, including tokenized Treasury funds and select alternative investment products.
Related: True tokenization requires the ability to compound assets, not packaged bubbles
Solana is gaining ground in tokenized RWAs
Solana (SOL) has become a growing venue for tokenized RWAs. According to data from RWA.xyz, it ranks eighth among blockchains in terms of total RWA value, with approximately $1.2 billion represented across 343 assets. Although its market share remains modest at 0.31%, Solana is showing stable momentum, with its RWA value increasing by more than 10% over the past month.
RWA Market Overview. Source: RWA.xyz
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 risk-weighted assets and a market share of more than 88%. Ethereum ranks second with $15 billion in tokenized assets, while Provenance also holds $15 billion with fewer assets.
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