Key Takeaways
- Plume has secured $10 million in a seed funding round led by Haun Ventures, with participation from other prominent venture capitals like Galaxy Ventures and A Capital.
- Plume is developing a Layer-2 EVM that specializes in bringing real-world assets (RWAs) onto the blockchain.
- The platform offers extensive DeFi functionalities, allowing users to earn yield, borrow, lend, and trade using RWAs.
Plume has raised $10 million seed funding round, positioning itself as a leading Layer-2 Ethereum Virtual Machine (EVM) solution for bringing real-world assets (RWAs) on-chain. This funding round was led by Haun Ventures and saw contributions from an array of high-profile investors including Galaxy Ventures, Superscrypt, A Capital, and others.
Plume’s unique selling proposition lies in its modular, permissionless blockchain architecture, which addresses the critical industry gap of lacking a full-stack RWA infrastructure capable of compliantly deploying diverse asset classes. This innovative approach not only facilitates traditional financial entities in engaging with blockchain technology but also catones to the needs of crypto-native users with its array of decentralized finance (DeFi) services.
The DeFi capabilities on Plume allow users to engage in a variety of financial activities such as earning yield, borrowing, lending, and trading with leverage—all centered around RWAs. This integration of asset tokenization and compliance tooling directly into the blockchain simplifies the process for diverse projects ranging from luxury goods to real estate and more.
Plume’s private testnet has experienced remarkable growth, hosting over 80 RWA projects spanning collectibles, alternative assets, synthetics, luxury goods, real estate, DeFi and more. The traction highlights the demand and potential for such a platform in today’s market, where the intersection of traditional finance and decentralized applications continues to deepen.
Chris Yin, CEO and Co-founder of Plume, said: “While many are attempting to solve tokenization through permissioned environments, Plume stands out by prioritizing a crypto-first approach. Our modular EVM based L2 and end-to-end tokenization engine makes both onboarding and interacting with assets and capital easy for everyone from the biggest institutions to retail.”
Backing the vision of Plume, Chris Ahn, Partner at Haun Ventures, noted, “Plume Network provides custom tooling and an ecosystem specifically designed for RWAs of any type. This will reshape the way the world interacts with and derives value from real-world assets.”
The team behind Plume comprises individuals from renowned entities in both the Web3 space and traditional financial sectors, such as Coinbase, Binance, Robinhood Crypto, dYdX, JP Morgan, and LayerZero, underscoring the robust expertise guiding Plume’s trajectory.
Teddy Pornprinya, Co-founder of Plume and a former executive at Coinbase Ventures and Binance, pointed out the evolving landscape of RWAs in crypto.
“The traditional view of tokenized real-world assets is no longer interesting in today’s markets,” Teddy said in a statement. “What people seek today are crypto use cases that involve RWAs. Plume makes it easy to trade, earn yield, and speculate with any real-world asset so people can benefit from both the advantages of crypto and exposure to RWAs.”
