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Plume Network has successfully launched its mainnet with a remarkable $150 million in real-world assets tokenized on its infrastructure, backed by prominent investors Apollo Global and Haun Ventures. The company’s ambitious goal is to transform traditional assets into negotiable, yield-bearing digital instruments, thereby expanding their use cases for both institutional investors and retail users.
The innovative Layer 2 network built by Plume is designed to host a variety of tangible assets such as solar farms, Medicaid claims, mineral rights, consumer credit, and corporate debt. These physical world assets will be tokenized on-chain and can be utilized as collateral, to generate yield, or even serve as backing for fresh positions in stablecoins.
Throughout its testnet phase, Plume Network processed an astonishing 280 million transactions within a mere eight weeks, indicating considerable demand from users and investors eager to tap into the rapidly expanding RWAs. The impressive trading volume has already surpassed $23 billion, with private credit, U.S. Treasury bonds, and commodities making up the majority of the trading activity.
In addition to its mainnet launch, Plume has also secured a significant milestone in strengthening its DeFi ecosystem by partnering with Morpho, Curve, Orderly, Matrixdock, and Solera – all renowned DeFi applications that support trading and leverage strategies for tokenized assets. Furthermore, it is establishing institutional-grade vaults, known as Nest vaults, where users can deposit stablecoins to receive yield-bearing RWA tokens in return, which can then be reused across various protocols.
Plume Network has already garnered substantial investment by raising $10 million during its seed round and an additional $20 million in a Series A. Notably, Apollo Global participated in this funding round with a seven-figure strategic investment, demonstrating the growing interest of institutional investors in modular tokenization models.
Furthermore, the company has successfully concluded a large-scale deployment agreement with Mercado Bitcoin to tokenize $40 million worth of Brazilian assets, marking its first substantial foray into Latin America. The company’s intention is to swiftly ramp up on-chain asset volume over the coming months, capitalizing on burgeoning demand for products that integrate traditional returns with liquidity and composability.
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Source: crypto-economy.com
