rwaUSD - Where TradFi Meets DeFi

Multipli lets you borrow against real-world assets such as tokenized gold, stocks, the S&P 500 and other tokenized assets, to unlock on-chain liquidity and yield without selling what you own.

rwaUSD is a credit-backed stablecoin you can mint against eligible tokenized real-world assets, the liquidity you borrow while keeping exposure to the underlying asset. Eligible collateral includes tokenized gold, stocks, the S&P 500 and other index/ETF exposure, treasuries and stablecoins.

Today, each tokenized asset whether it’s a Treasury-backed stablecoin or tokenized gold comes with its own issuer, legal structure, redemption mechanics, liquidity profile, and risk model. For DeFi protocols, this creates an impossible burden: every new asset requires separate evaluation, pricing, risk parameters, and liquidation logic. Multipli abstracts this complexity.

Rather than forcing every protocol to integrate with hundreds of fragmented tokenized assets, Multipli aggregates them behind a single, standardized collateral primitive. On one side sits the diversity of tokenized RWAs; on the other sits rwaUSD, a unified, composable on-chain dollar.

Simply put, rwaUSD consolidates 100+ Treasury-backed stablecoins and 10+ tokenized gold assets into a single token that can move freely across DeFi without bespoke integrations.

What rwaUSD is designed to do

rwaUSD is designed to:

• Normalize fragmented tokenized assets into a single, consistent collateral interface

• Enable true composability, allowing RWAs to function seamlessly across DeFi protocols

• Unlock yield pathways, so value held in tokenized assets can become productive without waiting for issuers to integrate with every protocol individually

In addition, rwaUSD is designed with peg protection in mind. The stability of rwaUSD is supported by insurance from Lloyd's that cover de-pegging risk arising from the underlying collateral, adding an extra layer of protection beyond over-collateralization and risk controls.