HomeBlockchainPlume, a Layer-2 Blockchain for Real-World Assets, Secures $10M in Seed Funding...

Plume, a Layer-2 Blockchain for Real-World Assets, Secures $10M in Seed Funding from Haun and Galaxy

-


Plume Raises $10M for First Layer-2 Blockchain for Real-World Assets

Blockchain startup Plume raises $10 million for RWA-focused layer-2 blockchain

As blockchain technology continues to gain mainstream acceptance, compliance-oriented crypto projects are gearing up for a potential surge in blockchain-based real-world assets (RWAs). One such startup, Plume, has secured $10 million in seed funding for what it claims will be the first layer-2 blockchain specifically designed for RWAs.

The funding round was led by Haun Ventures and saw participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, and Reciprocal Ventures. Plume’s Ethereum-based blockchain aims to simplify the process of bringing off-chain assets onto blockchains, such as real estate, art, and certain financial instruments.

According to a statement shared with CoinDesk, Plume’s platform will offer a comprehensive suite of features for managing RWAs, including earning yield, borrowing/lending, trading, and leveraging assets within the decentralized finance (DeFi) ecosystem. The underlying technology of Plume is based on Arbitrum Nitro, a framework for building layer-2 “rollup” chains that facilitate quick and low-fee transactions on Ethereum.

Plume co-founder Chris Yin emphasized the importance of streamlining the process of tokenizing real-world assets, noting that many protocols currently face significant delays in bringing assets on-chain. With Plume, Yin aims to standardize and simplify the process, offering a user-friendly interface for asset tokenization and management.

Currently, Plume has over 80 projects testing the deployment of real-world assets on its private network, including collectibles, private credit, and real estate. The startup plans to open its testnet to the public within the next month, with a full release expected to follow.

As the regulatory landscape for blockchain and crypto projects evolves, startups like Plume are positioning themselves to capitalize on the growing demand for compliant and efficient solutions for managing real-world assets on the blockchain.

LATEST POSTS

Bitcoin’s surge and selective memory spark renewed interest in the cryptocurrency market

Bitcoin's Rally Sparks Revival of Animal Spirits in Financial Markets The resurgence of Bitcoin and the broader cryptocurrency market is sparking a renewed sense of...

Will Bitcoin Reach $100,000 in 2024 with a Major Upward Movement?

Bitcoin's Journey to $100,000: Will 2024 Be the Year? Bitcoin continues to defy expectations as its price climbs to new heights, with the coveted $100,000...

Binance Increases Support for LUNC, USTC, LUNA, SHIB, and More Cryptocurrencies

Binance TH Announces New Crypto Listing and Trading Pairs on June 11, 2024 Binance TH, the Thailand arm of the popular crypto exchange Binance, has...

TedAI Transforms Accessibility to AI and Blockchain Technology

Transforming AI and Blockchain Education: TedAI's Innovative Approach TedAI Revolutionizes AI and Blockchain Education with Innovative Tools and Community Engagement In a world where AI and...

Most Popular