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Investors in the round include Brevan Howard Digital, Haun Ventures, Lightspeed Faction, and Galaxy Ventures.
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Tokenization startup Plume Network has closed a $20 million funding round to support the development of its real-world assets ecosystem.
According to a Fortune report on Dec. 18, the investment round was led by Brevan Howard Digital, Haun Ventures, Lightspeed Faction, and Galaxy Ventures. Previous investors in the startup included SV Angels and Portal Ventures.
The funding follows Plume’s testnet launch in July in partnership with Celestia. The company is developing a tokenization ecosystem that will allow holders of tokenized assets to use them as collateral for loans and other forms of yield generation.
In September, the company launched a tokenized ‘Mineral Vault’ representing tokenized mineral interests from natural resource extraction and sales.
In a statement shared with Cointelegraph, a Plume spokesperson said the vault would provide “financial exposure to resource production like gold, silver, coal, and primarily crude oil and natural gas.”
RWA market capitalization. Source: Galaxy Research
Related: Tokenized RWAs are ’a $30-trillion opportunity’ — Polygon exec
Plume is said to have attracted 180 projects to build on its infrastructure, including Credbull, a decentralized private credit platform. In October, Credbull launched a fixed yield credit facility on Plume’s blockchain, allowing borrowers to take out loans over an extended period with fixed interest rates.
In 2024, several tokenization platforms have secured significant funding to advance the tokenization of real-world assets. In May, digital securities platform Securitize raised $47 million in a strategic funding round led by BlackRock to turn traditional assets into digital securities.
In June, ORA Protocol also secured $20 million in funding from investors such as Polychain, HF0, and Hashkey Capital. The protocol focuses on tokenizing artificial intelligence models onchain, enabling verifiable and traceable AI interactions.
Crypto firms are also making inroads into the tokenization market. Stablecoin issuer Tether introduced in November Hadron, a platform designed to tokenize assets such as stocks, bonds, commodities, and loyalty points.
Related: Société Générale, Banque de France complete blockchain repo transaction
This article first appeared at Cointelegraph.com News
