Multipli, a real-world asset and tokenized credit protocol, has received an investment from Coinbase Ventures through the Base Ecosystem Fund.
The investment marks another step in Multipli’s growth as it builds infrastructure for tokenized assets, institutional-grade yield and more efficient credit markets.
Multipli has already built meaningful traction across RWA markets, with approximately $300M in assets managed as per RWA.xyz, positioning it as the leading RWA protocol on Base by assets managed. The protocol is focused on making real-world assets more productive by enabling users and institutions to borrow more efficiently against assets such as gold, stocks, treasuries and other tokenized collateral.
The investment also comes at a time when Coinbase is placing increasing focus on tokenized stocks and the broader movement of traditional financial assets onchain. Coinbase has publicly described tokenized stocks as the most important step toward a future where equities can be owned, traded, held, redeemed and used onchain. Multipli is leading this market shift by creating the credit and yield infrastructure needed for these tokenized stocks to become more than passive representations of offchain value.
Coinbase CEO Brian Armstrong has described real-world asset tokenization as one of the major upgrades still needed in the financial system, pointing to “real estate, stocks, bonds, funds, etc. onchain for instant settlement, fractional ownership & massive distribution.” His comments reflect the broader market shift Multipli is building toward: tokenized assets becoming more useful, liquid and productive inside onchain financial markets.
“Traditional finance carries a lot of structural overhead,” said Bhavesh Praveen, CTO at Multipli. “Banks, brokers and credit intermediaries need large teams, physical infrastructure, manual processes and multiple layers of coordination to move capital. Blockchains change that cost structure. With smart contracts, code becomes the settlement layer, the rules are transparent and capital can move with far less friction. That is what makes onchain credit so powerful. We believe borrowing against real-world assets can become significantly cheaper than traditional markets and in some cases eventually 10x more efficient. Multipli was built to make that possible and we are already seeing strong interest from large banks, holding companies and institutional partners.”
By reducing the cost of borrowing against high-quality real-world assets, Multipli also creates new opportunities for those assets to generate yield. Instead of sitting idle, tokenized assets can be used as collateral, routed into DeFi liquidity, redeployed in real world markets and made productive across credit markets.
The Coinbase Ventures investment follows Multipli’s previous $20M funding round led by Pantera Capital, with participation from Spartan Group and Sequoia and comes as the protocol continues to lead the RWA credit ecosystem.
