Multiliquid
A NAV-based atomic swap protocol
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About Multiliquid
Multiliquid is an institutional liquidity layer for tokenized real-world assets (RWA), whose core capability is atomic exchange between tokenized funds (such as short-term T-Bills and money-market funds) and stablecoins including USDC, USDS, sUSDS, BENJI, and USTB. Deployed on Ethereum and Solana, it connects regulated asset issuers, stablecoin issuers, and institutional capital through a unified integration layer.
Its settlement engine executes fixed-price swaps based on net asset value (NAV), delivering zero slippage and atomic single-transaction finality while avoiding traditional DeFi price-discovery risk. The architecture embeds permissioning, KYC/AML, and whitelist checks, positioning it as a compliance-first settlement layer; the platform reports over $20 million in live liquidity and supports tokenized funds from asset managers such as Wellington Management, VanEck, Janus Henderson, and Fasanara, targeting the operational friction of long RWA redemption cycles and thin liquidity.
Multiliquid launched an instant redemption facility on Solana in February 2026, built with Metalayer Ventures, letting institutions swap tokenized money market funds into USDC or USDT with atomic T+0 settlement; in September 2026 it added liquidity routes for the tokenized funds JTRSY and JAAA. As of October, live liquidity on the platform exceeded $20 million, covering products from issuers including Wellington Management and VanEck.
In October 2026, Multiliquid closed a Polychain-led seed round, bringing total funding to $8 million, with Circle Ventures participating; proceeds go to settlement infrastructure.
Multiliquid plans to extend beyond Ethereum and Solana from tokenized Treasuries and money market funds into private credit, real estate and other regulated RWAs, while scaling its aggregator model in which multiple liquidity providers quote on each swap.
Will Beeson — Founder & CEO; previously co-founded Allica Bank and served as Chief Product Officer of Standard Chartered’s tokenization platform Libeara.
Angelo D’Alessandro — COO; has nearly 30 years of financial-services experience and founded and led UniCredit’s digital bank buddybank.
Michal Benedykcinski — CBO; has more than 15 years of capital-markets and private-equity experience, previously serving as an SVP at Arca and leading institutional partnerships at Hedera.
Multiliquid charges a protocol-level transaction fee equal to 5% of the discount or premium on each swap, with a fee floor of 1 basis point (0.01%) of total transaction value.
Multiliquid caps total annual fees for tokenized money market funds at 10 basis points of the fund's average annual transaction volume.