Coinbase Ventures is making moves again, this time zeroing in on a quieter but solid player in the RWA lane - Multipli.
They completed an investment through the Base Ecosystem Fund, with the amount undisclosed, but the signal is clear: Base aims to fill the gap in the RWA yield layer.
Looking back at Multipli's foundation, they recently secured a $20 million round led by Pantera, with Spartan and Sequoia also jumping in, and now Coinbase is doubling down, effectively bridging traditional capital and exchange ecosystems.
What they’re doing is quite practical: turning real assets like gold, stocks, and stablecoins into yield-bearing, collateralizable bases, then funneling out low-cost credit. In simpler terms, they want the on-chain money and off-chain assets to actually connect, rather than operate separately.
Here’s my take:
1. The narrative around RWA is shifting from "tokenization" to "yielding + crediting," and Multipli is positioned in the second phase;
2. Coinbase Ventures jumping in means the regulatory path for running RWA yield strategies on Base will be smoother in the future;
3. There might not be immediate catalysts for price spikes, but in the medium to long term, it’s a space where institutional funds are likely to linger.
There are more players in the RWA lane, but few can successfully navigate both yield and credit sides. This investment is definitely worth keeping on the radar.
#RWA #CoinbaseVentures #Base