Plume, a blockchain platform that focused on assets in the real world (RWAS) said on Tuesday that it ensured an investment from foundations managed by private equity giant Apollo Global Management as it appears to upscale its infrastructure and bring more traditional financial products to the chain.
The protocol did not reveal the conditions for financing. A spokesman for Plume told Coindesk that it was a “seven -digit” investment.
Plume develops a modular, Ethereum-compatible blockchain designed to transform a wide range of assets-from financial instruments to carbon credits and collectibles-to useful tokens. Its goal is to create an environment where users can not only keep the digital versions of assets in the real world, but also use them in well -known crypto activities such as lending, borrowing, exchange and speculation.
The investment will help Plume Fast-track its full-stack-blockchain structure and expand access to its ecosystem. Plume said its test network is already supporting more than 18 million user -cypto -draw books and over 200 integrated protocols.
The funding from Apollo, one of the world’s largest alternative asset leaders, emphasizes growing institutional interest in tokenized assets in the real world using blockchain rails for traditional instruments such as bonds, funds and raw materials. A recent Ripple and Boston Consulting Group report expected the Tokenized assets market to reach $ 18.9 trillion by 2033.
For an asset manager like Apollo, who has seen digital financing for some time, the agreement with Plume is a bet on infrastructure aimed at making alternative assets more fluid and programmable.
“Our investment in Plume emphasizes Apollo’s focus on technologies that expand access to institutional quality products and create more trouble -free, innovative client experiences,” Christine Moy, partner and head of digital assets in Apollo, said in a statement. “As private assets and funds that are increasingly moving on the chain, Plume represents a new form of infrastructure that focuses on digital asset tools, investor engagement and next generation’s financial solutions promotes the development of a more efficient and programmable financial system.”
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