As blockchain technology vies for mainstream acceptance in the halls of the United States Congress, compliance-oriented crypto projects are optimistic about a more favorable regulatory environment. This shift could potentially lead to a surge in blockchain-based real-world assets (RWAs).

Plume, a promising startup, has secured $10 million in seed funding to develop what it claims will be the first layer-2 blockchain purpose-built for RWAs. The funding round was led by Haun Ventures and included investments from Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures, and Reciprocal Ventures.

Plume’s Ethereum-based blockchain aims to be a one-stop shop for seamlessly integrating off-chain assets onto blockchains. The protocol helps navigate the complexities of paperwork, custodial requirements, and other legwork needed to bring assets such as real estate, art, and financial instruments onto blockchains.

“The RWA industry is one of the fastest-growing verticals in crypto today, but there remains a critical gap. To date, there has not been a permissionless blockchain equipped with full-stack RWA infrastructure to deploy any asset class compliantly,” Plume stated. “The robust DeFi ecosystem on Plume enables users to do everything with RWAs – from earning yield, borrowing/lending, trading, and speculating with leverage.”

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Plume’s technology is built on Arbitrum Nitro, a framework for constructing layer-2 “rollup” chains that facilitate fast and low-fee transactions on Ethereum. This technology ensures easy interoperability and asset swapping across other chains in the Arbitrum Orbit ecosystem.

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“When we started talking to protocols, everyone said the same thing: ‘It takes us anywhere between six months to two years to get an asset on-chain before we can even write a single line of code for our protocol,'” said Plume co-founder Chris Yin in an interview with crypto media company. “That’s just a ridiculous way to do things – it’s just duplicative work across every single protocol. We say, let’s standardize that.”

On Plume, “you have a comprehensive set of features to tokenize an asset – including setting up your entity, filing paperwork, taking custody of assets, managing wallets, cap tables, on/off-ramping, and know-your-customer (KYC) requirements,” explained Yin. “We integrate these products, provide a user-friendly interface, and ensure modularity.”

Currently, Plume has over 80 projects deploying real-world assets on its private test network, ranging from collectibles to private credit and real estate. Yin mentioned that Plume plans to open its testnet to the public within “a month or so,” with a full release to follow later.