Plume, Layer-2 Blockchain for Real-World Assets, Pulls $10M in Seed Funding from Haun, Galaxy
As blockchain vies for mainstream acceptance this week in the halls of the United States Congress, a growing number of compliance-oriented crypto projects are hopeful that a more favorable regulatory environment could soon lead to a surge in blockchain-based RWAs, or real-world assets.
One such startup, Plume, has raised $10 million in seed funding for what it says will be the first layer-2 blockchain purpose-built for RWAs. The round was led by Haun Ventures and included participation from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures and Reciprocal Ventures.
Plume's Ethereum-based blockchain is pitched as a one-stop shop for easily bringing off-chain assets onto blockchains, meaning the protocol helps people navigate the morass of paperwork, custodial requirements and other legwork required to bring things like real estate, art and certain kinds of financial instruments onto blockchains.
"The RWA industry is one of the fastest-growing verticals in crypto today but there remains a critical gap – to date there has not been a permissionless blockchain equipped with fullstack RWA infrastructure to deploy any asset class compliantly," the company explained in a statement shared with CoinDesk. "The robust DeFi ecosystem on Plume enables users to do everything with RWAs – from earning yield, borrowing/lending, trading and speculating with leverage."
