Universal
(Inactive)A protocol issuing cross-chain wrapped assets backed 1:1 by real assets
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About Universal
Universal is a wrapped asset protocol that lets non-smart-contract assets like BTC and DOGE be used across multiple blockchains. Its core business is minting and redeeming uAssets (e.g., uBTC) through authorized merchants, with reserves held by regulated custodians. The main pain points it addresses are fragmented liquidity across chains and the inability of certain assets to participate in DeFi. Unlike traditional bridges that lock assets, Universal uses a mint-and-burn model with just-in-time liquidity, improving capital efficiency. Over the past six months (March to September 2026), Universal has expanded its supported chains to include Base, Arbitrum, Solana, and others, and has seen growing adoption in lending and DEX markets. However, in Q3 2025, there was a temporary delay in publishing proof-of-reserves reports, which raised some community concerns about transparency. Additionally, the reliance on permissioned merchants and custodians means the system is not fully decentralized, which may not suit users prioritizing trustless setups.
Universal was founded in June 2024, publishing a whitepaper proposing a unified wrapped-asset system, and secured backing from a16z Crypto, Coinbase Ventures, and others. Following mainnet launch, it introduced uAssets infrastructure enabling cross-chain trading of non-EVM assets (XRP, SOL, DOGE), surpassing $950M in volume within months. By end-2024, 80+ wrapped assets were integrated with standardized APIs. In Feb 2025, a16z announced its lead investment, framing Universal as the "Circle for cryptoassets." Dec 2025 saw the Universal API and TypeScript SDK release. In Jan 2026, the V4 Hook launched, enabling atomic swaps via Uniswap V4 without RFQ flows or offchain signatures, delivering synchronous just-in-time liquidity. The protocol uses 1:1 collateralization with a burn-mint mechanism, Coinbase Prime custody, and zkProof-based proof of reserves, establishing core infrastructure for cross-chain interoperability.
Major progress over the past six months: In March 2026, Universal Protocol integrated with Unichain, enabling 1:1 backed tokens (uAssets) for non-EVM assets such as DOGE, XRP, and ZEC, custody by Coinbase Prime. Its burn-and-mint model eliminates cross-chain liquidity fragmentation, connecting over $90 billion in assets to Ethereum DeFi. In July 2026, Universal signed an MoU with GoldZip, a subsidiary of the Hong Kong Gold Exchange, to explore connecting the UAE's regulated stablecoin ecosystem with Asia's digital gold market, advancing compliant RWA interoperability.
Future focus: The official roadmap emphasizes expanding supported assets and blockchains, while deepening regulated stablecoin (e.g., USDU) and real-world asset integration, strengthening institutional-grade compliance infrastructure.
Co-founders and core executives:
Gaut (Gauthier Le Meur) – Co-founder & COO. Previously co-founded Stream Club (acquired by Mux).
Jun Ho Hong – Co-founder & Head of Engineering. Ex-DoNotPay lead iOS engineer, built multiple products.
Austin Diamond – Co-founder & CEO. Previously founded Stream Club (acquired by Mux), led engineering at Omni (acquired by Coinbase).
Manuel García Díaz – Head of Engineering (in addition to Jun).
Jakub Świerczek – Lead Backend Engineer.
Andrew Madar – General Counsel.