Plume, a blockchain platform centered on real world assets (RWAS), said Tuesday that he obtained an investment of the funds administered by the private capital giant Apollo Global Management, since it seeks to expand its infrastructure and bring more traditional financial products in the chain.
The protocol did not reveal the terms of the financing. A Plume spokesman told Coindesk that it was an investment of “seven figures.”
Plume develops a modular and compatible block chain with Ethereum designed to convert a wide range of assets, from financial instruments to carbon and collectible loans, in usable tokens. Its objective is to create an environment in which users can not only contain the digital versions of real world assets, but also use them in family cryptographic activities such as loans, loans, exchanges and speculation.
The investment will help to stroke its complete battery blockchain construction and expand access to its ecosystem. Plume said his testnet already supports more than 18 million user encryption wallets and more than 200 integrated protocols.
The financing of Apollo, one of the largest alternative asset administrators in the world, underlines the growing institutional interest in real world assets, using blockchain rails for traditional instruments such as bonds, funds and basic products. A recent Ripple and Boston Consulting Group reported that the tokenized asset market could reach $ 18.9 billion by 2033.
For an asset manager such as Apollo, who has been looking at digital finances for some time, the agreement with Plume is a commitment to infrastructure that aims to make alternative assets more liquid and programmable.
“Our pen investment underlines Apollo’s approach to technologies that expand access to institutional quality products and create more perfect and innovative customers experiences,” said Christine Moy, a partner and director of digital assets in Apollo, in a statement. “As assets and private funds move more and more in the chain, Plume represents a new type of infrastructure focused on the usefulness of digital assets, the participation of investors and next -generation financial solutions, advancing the development of a more efficient and programmable financial system.”
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