Plume Launches Genesis Mainnet Tokenizing $150M in Real-World Assets

Plume, a blockchain network dedicated to real-world assets, announced the launch of its highly anticipated Genesis mainnet on Thursday. This launch signifies a new era in asset-backed decentralized finance (DeFi), as it aims to tokenize traditional financial instruments, or real-world assets (RWAs), to enable their interaction with blockchain-based financial tools.

RWAs have gained significant traction in the blockchain world, with analysts forecasting a market worth trillions of dollars. Traditional financial institutions are increasingly exploring the potential of crypto, making RWAs a focal point in the industry.

At the time of the launch, Plume revealed that it has already established partnerships with major financial institutions such as Blackstone and Invesco, with over $150 million in utilized RWAs. Additionally, Plume has integrated with prominent DeFi platforms like Curve and Morpho, enhancing its ecosystem and functionality.

According to the Plume team, RWA tokens on their platform behave similarly to crypto-native tokens, allowing users to seamlessly integrate high-yielding real-world assets into familiar DeFi activities such as lending, liquidity provision, yield farming, and leveraged positions.

In December, Plume announced that it had successfully raised $20 million in a Series A fundraising round and had onboarded $4 billion into its ecosystem. This funding round underscores the growing interest and investment in the potential of RWAs within the DeFi space.

Looking ahead, the Plume team plans to introduce new asset classes and RWAfi use-cases in the coming months. These include tokenized art, precious metals, uranium, and trading cards, further expanding the scope and utility of their platform.