Tokenized credit protocol Multipli said on Thursday it received an investment from Coinbase Ventures through the Base Ecosystem Fund. The size of the investment was not disclosed.
Dubai-based Multipli builds credit and yield infrastructure around tokenized collateral such as gold, stocks, treasuries and stablecoins. The protocol lets users and institutions borrow against those assets and redeploy them across onchain credit markets.
Multipli has approximately $300 million in assets managed, according to RWA.xyz, making it the largest RWA protocol on Base by that measure.
The investment fits Coinbase’s broader push into asset tokenization. The firm’s Ventures page lists asset tokenization among its priority themes for 2026, and the Base Ecosystem Fund is designed to channel capital toward builders on Base, the Ethereum Layer 2 network built by Coinbase.
“Traditional finance carries a lot of structural overhead,” said Bhavesh Praveen, CTO at Multipli. “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.”
The investment follows a $20 million round led by Pantera Capital, with participation from Spartan Group, Sequoia and Elevation Capital.
