The modular blockchain Plume has concluded a Series A funding round, raising $20 million. The project attracted investments 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 firms.
RWAfi is here.
Today, we’re proud to announce our $20M Series A from leading investors in both crypto and TradFi:@BHDigitalAssets, @HaunVentures, @GalaxyDigital, @FactionVC, @Superscrypt, @HashKey_Capital, @LaserDigital_, A Capital, @280Capital, @svangel, @recvcx, and others. pic.twitter.com/hgkG3favDg
— Plume Network — RWAfi L1 (@plumenetwork) December 18, 2024
The Plume team is developing an EVM-compatible blockchain focused on the tokenization of real-world assets (Real World Assets, RWA). According to the project, 180 protocols with assets worth $4 billion have been launched on the Plume devnet.
“We have long observed a huge demand for RWA, but the appropriate infrastructure for their tokenization has not existed until now. Only stablecoins have managed to become a universal product. Our platform allows any issuer to easily place assets on-chain. Plume will integrate them into an ecosystem with a vast community, sufficient liquidity, and a network of financial partners.
The eight-week Plume testnet attracted 3.7 million active users, who created 18 million wallets and sent 280 million transactions, while a recent pre-deposit campaign raised $30 million in 90 minutes,” commented the project’s founder and CEO, Chris Yin.
In addition to the modular blockchain, Plume’s products include the tokenization engine Plume Arc and the real-world asset data provider Plume Nexus. The launch of the project’s mainnet is scheduled for early 2025.
Previously, ForkLog explained how to tokenize real estate and transfer it via a smart contract.