New York, December 18, 2024 - Plume, the first Layer-1 blockchain module focused on Real-World Asset Finance (RWAfi), today announced the completion of a $20 million Series A funding round from Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscrypt, Hashkey, Laser Digital (Nomura Group), A Capital, 280 Capital, SV Angel, Reciprocal Ventures and other investors. This demonstrates strong confidence from both the crypto and traditional finance industries in Plume's vision for the RWAfi ecosystem on the blockchain.
Since the Seed round, Plume has seen explosive growth with over 180 protocols building in its ecosystem, representing over $4 billion in assets. The network's recent 8-week Testnet recorded over 18 million wallets, 3.75 million active wallets, and over 280 million transactions. Additionally, Plume's recent pre-deposit campaign received overwhelming registration with over $30 million filled in less than 90 minutes, setting the stage for the upcoming mainnet launch.
As a pioneer in the RWAfi space, Plume is building the infrastructure to make interacting with real-world assets on the blockchain easy. Plume is not only the simplest way to bring real-world assets onto the blockchain with products like Plume Arc (tokenization engine module) and Plume Nexus (data provider), but also the place to interact with those assets on Plume's EVM blockchain. On Plume, users can easily swap, trade, and speculate on real-world assets just as they would with pure crypto assets. Whether it's earning real-world profits from holding oil royalties, using them as collateral in lending markets to create leverage, or putting those tokens into a dex perps - Plume is the one-stop-shop for users to access the real world through crypto rails without permission.
"RWAs have always had huge demand on the blockchain, but the infrastructure history to bring these assets on-chain has never existed," said Chris Yin, co-founder and CEO of Plume. "Look at the RWA origin, stablecoins - they are one of the best products in crypto to onboard new users. But the key to adoption lies in the ecosystem and user experience - while stablecoins have done this well, the rest of RWAs have not. With Plume, asset issuers of all kinds can now become pure crypto developers. Through our technology and ecosystem, we directly connect them into our community, ecosystem, and liquidity - all in an open, permissionless, and composable way."
The capital raised in this round will accelerate Plume's commitment to creating the first RWA L1 blockchain for both crypto-natives and institutions, while supporting new applications and products in emerging markets on Plume, driving the mission of bringing the real world onto the blockchain for everyone, from crypto-natives to the largest financial institutions.
"Plume's approach to RWA leverages the unique capabilities of DeFi-native blockchain and combines it with their deep understanding of the drivers that motivate traditional financial institutions and new users to engage with blockchain, especially in emerging markets. It's exciting to see alternative investment asset classes like carbon credits, specialty finance products, and GPUs being brought onto the blockchain through Plume, which are not easily accessible to investors today," said Will Nuelle, General Partner at Galaxy Ventures.
Plume aims to unlock the untapped potential of physical assets and economic data to create opportunities for real-world profits, sustainable growth, and global accessibility. Users will be able to access Plume when the mainnet launches in early 2023.
