TownSquare Partners with Multipli to Bring Over $260 Million in Real-World Private Credit On-Chain

TownSquare has partnered with Multipli to bring over $260 million in real-world private credit on-chain, with the first tranche deployed across Base, Robinhood Chain, and Monad and backed primarily by real estate assets. An additional $500 million spanning mining, AI data centers, energy storage, and AI robotics is slated to launch in Q4 2026 and Q1 2027. The credit is issued as six asset-backed tokens (townREIT, townMINE, townAIDC, townGOLD, townBATT, townAIROBO) and collateralized through Multipli's permissioned rwaUSDi institutional stablecoin, with yields distributed via TownSquare's RWA Vaults across eight chains. TownSquare, which has raised $16.25 million to date, is positioning itself as an on-chain BlackRock for private credit, moving from yield curation into asset origination. The deal matters as private credit is the largest tokenized RWA segment, estimated at roughly 44% of a $51 billion market per Bernstein Research, with RWA.xyz putting on-chain distributed private credit at $7.9 billion. Next to watch is whether the remaining $500 million pipeline deploys on schedule and how the isolated rwaUSDi pools perform as the tokenized private credit market scales.