Plume, a modular blockchain dedicated to financing real-world assets, has obtained a significant investment from funds managed by Apollo Global, as indicated in a recent announcement.
The exact amount has not been disclosed, but it aims to expedite the development of Plume’s framework and bolster its objective of making real-world assets as accessible and functional as any cryptocurrency-based asset. Apollo is a global alternative asset manager listed on the NYSE.
Plume is crafting an EVM-compatible chain along with comprehensive infrastructure to facilitate the on-chain representation of various assets, including financial instruments, carbon credits, GPUs, and collectibles.
This platform allows users to swap, lend, borrow, and speculate on tokenized assets within its DeFi ecosystem focused on real-world assets. Currently, Plume supports over 200 protocols and has experienced activity from more than 18 million wallets on its testnet.
In March, Plume unveiled a new payment finance product known as nPAYFI on its Nest platform. This product introduced real yield use cases backed by the PayPal USD (PYUSD) stablecoin.
The aim was to integrate payment financing on-chain and utilize PYUSD as a liquidity layer in the real-world asset marketplace.
Assets On-Chain
A representative from Apollo commented that the investment underscores the firm’s belief in technologies that “expand access to institutional-quality products and foster more seamless, innovative client experiences.” They highlighted Plume’s pivotal role in enabling programmable finance and enhancing investor engagement for private assets on-chain.
Teddy Pornprinya, co-founder of Plume, noted that this partnership aligns with the company’s ambition to move beyond just tokenization, concentrating on making real-world assets operational within the cryptocurrency ecosystem.
“The challenge is not merely getting assets on-chain, but ensuring they are functional once they are there,” he stated.
In contrast to traditional RWA solutions that primarily focus on asset tokenization, Plume’s infrastructure prioritizes composability and utility. Asset issuers can connect directly to liquidity and distribution networks, establishing Plume as a central hub for on-chain financial innovation.