Plume Network Joins Tokenized Asset Coalition to Advance Asset Tokenization

Plume Network Joins the Tokenized Asset Coalition: A New Era in Asset Tokenization

On September 27, 2023, Plume Network, a pioneering RWA L2 network, announced its successful inclusion in the Tokenized Asset Coalition (TAC). This partnership aims to significantly enhance the tokenization of physical assets and streamline regulatory processes in the ever-evolving decentralized finance (DeFi) landscape.

Tokenization Goals and Achievements

Plume Network has ambitious goals, aiming to facilitate the tokenization of over $3 billion in assets. The coalition selected Plume Network from an impressive pool of over 175 applicants, highlighting its innovative approach. Other notable members joining TAC include industry leaders such as a16z, Arbitrum, Aptos, Galaxy Digital, Wisdom Tree, Axelar, and Hashnote.

Driving Decentralized Financial Innovation

During its testnet phase, Plume Network showcased its capabilities by processing over $280 million in on-chain transactions. This successful engagement attracted participation from more than 18 million wallets, demonstrating the network's growing influence and acceptance in the crypto space.

The Coalition's Vision

The primary objective of the Tokenized Asset Coalition is to tokenize over $1 trillion in assets. The coalition aims to promote the adoption of public blockchains, enhance asset tokenization, and foster institutional DeFi solutions. As a member, Plume Network will play a critical role in achieving these goals.

Recent Funding Success

Before joining TAC, Plume Network successfully raised $10 million in a seed funding round led by Haun Ventures. This injection of capital will help the network expand its technological capabilities and continue its quest to innovate within the asset tokenization space.

Conclusion

Plume Network's inclusion in the Tokenized Asset Coalition marks a significant milestone in the journey towards mainstream asset tokenization. As the blockchain industry continues to mature, initiatives like these will be vital in harnessing the power of decentralized finance and ensuring regulatory clarity for physical asset tokenization.

For further updates on Plume Network's developments and the broader DeFi space, be sure to stay connected!