New protocol targets redemption delays in $20B tokenized market

Blockchain infrastructure company Uniform Labs, founded by Standard Chartered veterans, has launched Multiliquid, a new protocol addressing liquidity constraints in the $20 billion tokenized real-world asset (RWA) market. Multiliquid facilitates 24/7 conversions between tokenized money market funds and major stablecoins like USDC and USDT, supporting integrations with tokenized Treasury assets from managers like Wellington Management. This allows institutional holders on-demand liquidity, bypassing issuer-controlled redemption windows. The protocol was developed partly in response to the US GENIUS Act, which restricts stablecoin issuers from paying yield directly. Multiliquid is designed to keep stablecoins as payment instruments while enabling yield generation through regulated tokenized money market funds. The launch addresses concerns raised by the Bank for International Settlements (BIS) regarding liquidity risks in tokenized money market funds, which have grown rapidly but remain constrained by traditional redemption processes, posing operational risks in onchain markets.

(Source：Cointelegraph)