Multiliquid, a protocol built by Uniform Labs, has raised $8 million across its pre-seed and seed funding rounds, with Polychain leading the seed portion. The protocol enables holders of tokenized money-market and treasury funds to swap directly into stablecoins USDC and USDT with T+0 settlement—meaning trades settle instantly rather than waiting one or two days as in traditional markets. Multiliquid launched on Ethereum mainnet in December 2025, added a Solana instant redemption facility in February 2026, and integrated liquidity routes for JTRSY and JAAA tokenized funds in September 2026. The protocol addresses a friction point in tokenized finance: Wall Street institutions placed funds on blockchain but retained the multi-day waiting periods typical of traditional fund redemptions. Multiliquid functions as a liquidity aggregator on Ethereum and Solana, allowing multiple liquidity providers to compete on swap pricing pegged to each fund's net asset value, and now supports over $20 million in live liquidity for products from Wellington Management and VanEck.
Multiliquid Operates as Liquidity Aggregator with NAV-Pegged Pricing
Multiliquid does not run one central pool of its own capital. The protocol works as a liquidity aggregator. Several liquidity providers can quote prices and compete for each swap. Settlements are priced against each fund's net asset value, or NAV—the per-share value of what the fund actually holds. Pegging trades to NAV keeps swap prices tied to the underlying assets. The swaps are atomic, meaning both sides of the trade happen together or neither does. Multiliquid supports USDC and USDT on Ethereum and Solana.
Protocol Launched Ethereum Mainnet December 2025, Expanded to Solana February 2026
Will Beeson founded the project in 2025. Beeson previously served as Chief Product Officer at Standard Chartered's tokenized asset platform and has also worked at Allica Bank. Multiliquid launched on Ethereum mainnet in December 2025. In February 2026, the protocol added an instant redemption facility on Solana, built with Metalayer Ventures. Live liquidity now exceeds $20 million. The protocol supports tokenized products from Wellington Management and VanEck. In September 2026, Multiliquid added liquidity routes for the JTRSY and JAAA tokenized funds.
Multiliquid Supports Treasury Desk Use Case for Yield-Bearing Funds
For institutions, instant conversion changes how tokenized funds can be used. A treasury desk could keep cash in a yield-bearing tokenized fund and swap into stablecoins only when it needs to pay. Idle balances can keep earning until the moment they are spent. Multiliquid presents itself as neutral infrastructure for institutional on-chain finance. Running on both Ethereum and Solana lets the protocol meet issuers and stablecoin holders where they already operate.
Polychain and Four Additional Investors Back Uniform Labs
The investor list includes Polychain, Metalayer Ventures, Strobe Ventures, CMT Digital, and The Venture Department. Uniform Labs is based in Newark, Delaware, and has three employees. The raise gives Multiliquid capital to extend a product that already has live routes, named fund integrations, and backing from well-known crypto investors.
FAQ
What did Multiliquid raise in its pre-seed and seed funding rounds?
Multiliquid raised $8 million across its pre-seed and seed rounds, with Polychain leading the seed portion.
When did Multiliquid launch on Ethereum and Solana?
Multiliquid launched on Ethereum mainnet in December 2025 and added an instant redemption facility on Solana in February 2026.
How much live liquidity does Multiliquid currently support?
Live liquidity on Multiliquid now exceeds $20 million, supporting tokenized products from Wellington Management and VanEck.
