Plume Raises $10M for Blockchain Built to Bring Real-World Assets Onto Ethereum

Plume, a startup focused on compliance-oriented crypto projects, has raised $10 million in seed funding for its Ethereum-based blockchain that aims to simplify the process of bringing off-chain assets onto blockchains. The blockchain is designed to be the first layer-2 blockchain purpose-built for real-world assets (RWAs) and will enable users to earn yield, borrow/lend, trade and speculate with leverage. Plume's underlying technology is based on Arbitrum Nitro, a framework for building layer-2 "rollup" chains that write transactions to Ethereum quickly and with low fees. The company plans to open up its testnet to the public within "a month or so," with a full release to follow later on.