Investing in Uniform Labs
We are excited to announce our investment in Uniform Labs, a technology company focused on building foundational infrastructure for institutional digital asset markets.
The company’s first product, Multiliquid, is a liquidity facility between tokenized money market funds and stablecoins for institutional users. This allows institutions to move between onchain money market funds and stablecoins without the operational delay and friction that exists today.
We have seen a key pattern across fintech cycles. Innovation starts with distribution and interface improvements, while the underlying processing remains slow, fragmented, and operationally heavy. This then leads to innovation in financial manufacturing, which is what we have seen in DeFi and blockchain capital markets. Web3 turns financial instruments into software native assets.
Today, hundreds of billions of dollars in stablecoins, tokenized treasuries, and tokenized money market funds operate on shared rails with real time settlement and programmable rules.
However, as financial and economic architectures have changed, interoperability between systems becomes a material problem. Converting between them is slow, bespoke, or operationally complex. This is expensive when capital has a cost.
Multiliquid provides a neutral liquidity layer that allows regulated, yield bearing tokenized assets and stablecoins to interact continuously, with institutional controls and compliance requirements built in.
We expect that current large scale adoption of stablecoins and tokenized RWA will soon lead to a world of large-scale DeFi orchestration. Stablecoin chains, crypto-native asset managers, and onchain financial operators (e.g., merchants, PSPs, employers) will increase usage of DeFi protocols for savings, borrowing, and investing activity.
As financial activity becomes increasingly automated, balance sheets need to operate continuously rather than on banking hours and batch cycles. Holding safe yield while retaining immediate liquidity is a basic requirement for software driven treasury systems. Longer term, we expect to see institutional digital asset infrastructure enabling AI-focused commercial activity, which we refer to as “Robot Money”.
We are supporting Uniform Labs today to solve a key infrastructure gap that institutions -- like issuers, stablecoin operators, treasury managers, already face today as they move capital onchain -- and to enable a frictionless onchain future of self-driving money.
Learn more about the company here.
