Apollo is doubling down on its push into real-world assets with a strategic investment in Plume, a platform specializing in real-world assets (RWAs) integrated with decentralized finance (DeFi) technology.
Apollo made a seven-figure investment in Plume, although the exact amount was not disclosed. This investment follows Plume’s $20 million Series A funding round announced at the end of the previous year. The investment marks Apollo’s first foray into a specific RWA blockchain, highlighting its deepening commitment to the crypto-native aspect of RWAs.
Plume co-founder Teddy Pornprinya revealed that the platform’s mainnet launch is scheduled for the current quarter, describing the timing as “imminent.” Apollo and Plume have been collaborating on various initiatives, including ACRED, Apollo’s offering created with Securitize. Pornprinya referred to Plume as an “RWAfi,” signifying its focus on integrating real-world assets with DeFi functionalities.
Plume has three main focus areas: infrastructure technology, distribution, and composability. The platform leverages its DeFi-native team to develop new use cases, aiming to make RWAs more accessible and appealing to onchain users. To achieve this, Plume is focusing on developer support and facilitating go-to-market strategies for crypto projects. According to Pornprinya, making RWAs more attractive to users onchain requires making them more “crypto-friendly.”
Apollo is recognized as a crypto-native institution with a forward-leaning approach in the RWA sector, particularly under Christine Moy’s leadership in digital assets. The institution is open to getting involved in the “permissionless side of things” and innovating with RWAs. Pornprinya highlighted that the new DeFi approach with RWAs seeks not just asset tokenization and passive yield but greater utility by moving these assets into the DeFi ecosystem to unlock more liquidity and financial opportunities.
Plume currently works with roughly 200 projects and previously conducted an eight-week testnet that attracted about 18 million wallets, including 4 million unique users. This significant adoption potential upon mainnet launch has generated interest, given the increasing institutional interest in RWAs. However, Plume and Apollo’s activity is distinguished by its deeper integration with DeFi and crypto-native growth strategies.