YZi Labs, formerly Binance Labs, the venture capital of popular exchange, Binance has invested in Plume Network, a fully integrated modular blockchain specifically built for Real World Assets (RWAs). YZi Labs confirmed the development in a post on its official X page.
According to the YZi Labs post, Plume is building an EVM-compatible environment that enables the onboarding of a diverse set of RWAs. The EVM-compatible environment also connects them to a compostable RWAfi ecosystem, giving them utility.
It is worth noting that Plume Network has a mission to create blockchain infrastructure that meets the needs of both crypto-native users and institutions. With over 18M successful wallet testnets and 180 partnerships, Plume is not only bringing the real world on-chain but also bridging the gap between DeFi and traditional finance, unlocking the maximum potential of RWAfi.
Users can access a wide range of assets through the Plume Network. Some of these assets include traditional financial instruments, carbon credits, GPUs, alternative assets, collectibles, among others. As revealed, these assets can be used across RWAfi ecosystem to swap, lend/borrow, earn, and speculate on the RWAs.
With this investment, Plume will expand its output, further solidifying its position as a leader in the RWAfi ecosystem. Similarly, the investment will also help the network grow its presence in emerging markets as it continues to onboard more financial institutions.
YZi Labs investment director gave his insight on the investment
Meanwhile, the investment director at YZi Labs, Max Coniglio has reacted to the development, stating that YZi Labs is excited to support Plume Network in advancing the RWAfi ecosystem. According to Coniglio, YZi Labs only invests in projects like Plume which harness blockchain technology to create real-world impact. He added that Plume is bridging the gap between traditional finance and DeFi, paving the way for broader adoption.
The co-founder and CEO of Plume, Chris Yin also expressed gratitude to YZi Labs for supporting the network. According to Yin, asset issuers of all kinds can now become Web3 builders, seamlessly connecting to the Plume community, ecosystem, and liquidity.
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