Plume, a blockchain platform focused on tokenizing real-world assets (RWAs), announced a $20 million Series A funding round. The platform plans to use the funds to accelerate the development of its layer 1 blockchain and launch its mainnet in early 2025.
The platform has brought over $4 billion of traditional assets on-chain, ranging from renewable energy projects to mineral rights and private credit. Plume raised $20 million in a series A venture funding with Brevan Howard, Haun and Galaxy investing. The team said it plans to use the funds to speed up development of its layer 1 blockchain, eyeing mainnet launch in early 2025.
Tokenized real-world assets are a quickly growing sector in the digital asset economy that could grow to trillions of dollars in this decade, according to various analyst forecasts. Plume, a blockchain network focused on real-world assets, raked in $20 million in fresh funds in a Series A fundraising round, the platform told CoinDesk on Wednesday. Investors participating in the round included Brevan Howard Digital, Haun Ventures, Galaxy Ventures, Lightspeed Faction, Superscrypt, Hashkey, Nomura's crypto arm Laser Digital, A Capital, 280 Capital, SV Angel, Reciprocal Ventures and others. The fresh investment round followed a With the investment, the team plans to speed up the development of its own layer 1 blockchain. Plume's mainnet launch is slated for early next year, the press release said. Plume aims to streamline bringing and investing in traditional financial instruments, or tokenized real-world assets (RWA), on blockchain rails with its tokenization engine, and is also developing an Ethereum Virtual Machine (EVM)-compatible blockchain where users can trade assets. RWAs are a rapidly growing class of digital assets, withto mushroom into a market worth several trillions of dollars over this decade as crypto firms and big financial institutions place assets like bonds, commodities and real estate on blockchains., renewable energy financing and mineral right
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