Plume Network Partners with Superstate to Expand Multichain Tokenized Finance
In a significant step toward expanding access to tokenized financial products, Plume Network has been selected by Superstate to power its multichain expansion, the companies announced on Tuesday.
As part of the collaboration, Plume Network will provide the infrastructure for Superstate’s suite of tokenized investment products. In return, Plume Network users will gain access to Superstate’s Short Duration U.S. Government Securities Fund (USTB) and Crypto Carry Fund (USCC). According to the announcement, USTB offers exposure to short-duration Treasury Bills, while USCC provides access to crypto basis strategies across Bitcoin, Ethereum, and U.S. Treasury securities.
Advancing Real World Asset Finance (RWAfi)
Plume Network’s co-founder and CEO, Chris Yin, emphasized the importance of this partnership, stating, “Plume’s selection as Superstate’s first chain expansion affirms our vision that a robust RWAfi (real-world asset finance) ecosystem can significantly drive the adoption of institutional-grade assets. Superstate has proven its capability to deliver transparent yields while scaling effectively for crypto-native investors.”
Superstate, an asset management firm specializing in investment opportunities for crypto-native institutional investors, aims to make institutional-grade tokenized assets accessible across multiple blockchains. Robert Leshner, founder of Superstate, echoed this sentiment, stating, “Our goal is to bring institutional-grade tokenized assets to every major blockchain. Plume Network’s unique RWAfi chain provides an opportunity to demonstrate how purpose-built infrastructure can enable great new use-cases for tokenized assets.”
Plume Network’s Expanding Role in Tokenization
Plume Network, a full-stack Layer 1 blockchain, has been steadily expanding its offerings in the realm of tokenized real-world assets. In 2023, the company announced plans to tokenize assets such as solar energy projects, mineral rights, and Medicaid claims. The selection of Plume by Superstate signals a growing industry shift toward blockchain solutions for real-world asset management.