Polychain led the seed round for the Uniform Labs protocol, which offers instant swaps between tokenized funds and stablecoins on Ethereum and Solana
Multiliquid has raised $8 million across its pre-seed and seed rounds. Polychain led the seed portion.
The protocol, built by Uniform Labs, wants to fix a slow part of tokenized finance: getting out. Wall Street put its funds on a blockchain, then kept the waiting period that comes with selling them.
Multiliquid lets holders of tokenized money-market and treasury funds swap directly into stablecoins like USDC and USDT. Those swaps run on Ethereum and Solana .
The key phrase is T+0 settlement . In traditional markets, “T+1” or “T+2” means a trade finishes one or two days after it happens. T+0 means it finishes the same moment. Multiliquid’s swaps are also atomic. Both sides of the trade happen together, or neither does.
Multiliquid doesn’t run one big pool of its own capital. It 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. NAV is the per-share value of what the fund actually holds. Pegging trades to it keeps swap prices tied to the underlying assets.
Will Beeson founded the project in 2025. He previously served as Chief Product Officer at Standard Chartered’s tokenized asset platform. He has also worked at Allica Bank.
The protocol launched on Ethereum mainnet in December 2025. In February 2026, it added an instant redemption facility on Solana, built with Metalayer Ventures.
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Live liquidity now exceeds $20 million. The protocol supports USDC and USDT, plus tokenized products from Wellington Management and VanEck.
In September 2026, Multiliquid added liquidity routes for the JTRSY and JAAA tokenized funds.
The investor list goes beyond Polychain. Metalayer Ventures, Strobe Ventures, CMT Digital, and The Venture Department also backed the company.
Uniform Labs is small. It is based in Newark, Delaware, and has three employees.
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. Asset managers are more likely to plug into a router that doesn’t compete with them or favor one issuer’s products.
Running on both Ethereum and Solana lets the protocol meet issuers and stablecoin holders where they already operate.
Scale is the obvious question. Live liquidity above $20 million is a working start. Watch whether that figure grows as the new capital is put to work.
The model also depends on outside liquidity providers. An aggregator works only if enough market makers want to quote.
Every Multiliquid route ends in USDC or USDT. The protocol’s usefulness is therefore tied to institutional comfort with those assets as settlement cash.
The raise gives Multiliquid capital to extend a product that already has live routes, named fund integrations, and backing from well-known crypto investors. The next markers to watch are new fund routes, growth in live liquidity, and whether more traditional asset managers connect their tokenized products to the network.