Plume, a blockchain network focused on real-world assets, announced on Thursday the launch of its hotly anticipated Genesis mainnet.
The launch, according to a statement shared by the Plume team, marks the “next generation” of asset-backed DeFi — tokenizing traditional financial instruments, or real-world assets (RWA), so they can interact with blockchain-based financial tools.
RWAs have taken over the world of blockchain, as they are viewed as a market that could be worth trillions of dollars with traditional financial institutions steadily dipping into crypto.
At the time of launch, Plume shared that it has already integrated with financial titans like Blackstone and Invesco, with over $150 million in utilized RWAs, as well as integrations with DeFi mainstays like Curve and Morpho.
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“Through Plume, RWA tokens behave just like crypto-native tokens, enabling users to seamlessly integrate high-yielding real-world assets across familiar DeFi primitives like lending, liquidity provision, yield farming, and leveraged positions,” the team shared.
Plume announced in December that it had raised $20 million in a Series A fundraising round and onboarded $4 billion into its ecosystem.
In the coming months, the Plume team plans to introduce newer asset classes and RWAfi use-cases, including tokenized art, precious metals, uranium, and trading cards.
Read more: RWA-Focused Network Plume Raises $20M from Brevan Howard and Others Ahead of Mainnet Launch