With $5 million in new funding, Multipli plans to scale institutional-grade strategies that unlock yield on BTC and XRP.
Multipli, a yield protocol backed by Pantera Capital and Sequoia, has raised $5 million in new capital, bringing its total funding to $21.5 million.
The proceeds are intended to expand institutional-grade yield products for assets such as Bitcoin and tokenized gold, which have historically generated minimal returns in decentralized finance (DeFi), the company said in a press release shared with The Defiant.
According to DeFiLlama, Multipli has roughly $79.5 million in total value locked (TVL), and the company said users can currently earn about 6% APY on wrapped Bitcoin and 10-15% on stablecoins.
The platform also plans to support tokenized silver by Q4, introduce impermanent loss protection for liquidity providers, and scale partnerships with firms including Fasanara Capital and Spartan Capital.
Targeting Non-yielding Assets
Founded by early Ethereum contributors and former executives from Coinbase, PayPal, and JPMorgan, Multipli aims to address a market gap, noting that over 90% of assets, such as BTC, XRP, and tokenized gold, earn less than a 1% annual yield in DeFi.
“We’re partnering with some of the world’s top hedge funds to tokenize their delta-neutral strategies—making them accessible to anyone holding stablecoins, BTC, or even tokenized gold. This raise lets us scale faster, offering real yield without lockups, and bridging institutional finance with the speed and composability of DeFi,” said Shaaran Lakshminarayanan, CEO and co-founder of Multipli.
Lakshminarayanan told The Defiant that Multipli has hit 70,000 active users on mainnet since launch, including “institutional clients that access the platform for yield strategies.”
Instead of relying on yield farming, the platform generates returns through strategies such as contango trading, basis arbitrage, and Treasury operations, collaborating with institutional managers to tokenize these strategies.
Multipli also rewards users with a point-based system, allowing them to earn ORBs for using the platform. Lakshminarayanan revealed to The Defiant that the platform is looking at a native token launch by “end of the year” on Ethereum and other partner networks with a “novel mechanism for token value accrual,” though details weren’t disclosed.
Source: https://thedefiant.io/news/defi/pantera-backed-multipli-raises-usd5-million-plans-token-launch-by-end-of-2025