In the third quarter of 2025, Plume took a key step, rapidly growing from an emerging network to a global leader in physical assets (RWA, RealWorld Assets) chain platform, further consolidating its dominant position in the Compliance and institutional asset tokenization sector.

Highlights Overview

The total locked value of l Plume this season for RWA is (TVL), reaching 645 million USD, with over 280,000 holders and on-chain transaction counts exceeding 100 million times. The number of RWA holders surpasses the sum of the other 10 chains in the market.

• Multiple institutional partners join the ecosystem: including Apollo Global Management (Apollo), EY (Ernst & Young), Mastercard (MasterCard), Ant Group (Ant Group), etc.
• Breakthrough on the Compliance Path: Plume has obtained approval from the U.S. Securities and Exchange Commission (SEC) as a registered transfer agent (Transfer Agent), which is one of the few examples of a blockchain-native entity receiving such certification.
• Ecological Acceleration: Since the mainnet launch, over 85 decentralized applications (dApps) have been deployed on Plume, covering a diverse range of areas including asset tokenization funds, commodities, credit instruments, and mining infrastructure projects.

The Landscape of Asset Tokenization Market and the Positioning of Plume

The third quarter of 2025 witnessed the global tokenization regulation move from the “discussion phase” to the “implementation phase.” The U.S. passed the GENIUS Act (U.S.), and the SEC initiated a dialogue mechanism regarding tokenization; Dubai approved its first on-chain money market fund; stablecoin pilots in Asia (such as KRW and JPY backing) entered the implementation stage.

At the same time, several traditional financial and technology giants are accelerating their entry into the tokenization track: including Nasdaq, Circle (USDC issuer ), Stripe, Tether, etc.

In such an environment, Plume is becoming the central infrastructure for the tokenization of real assets with its features of “native chain, permissionless, and Compliance controllable.”

Q3 Key Review

Network and Product Growth

• TVL grew from approximately 200 million USD at launch to 645 million USD.
• RWA holders exceed 280,000, accounting for over 50% of the global market.
• The self-developed product “Nest” has been restructured and upgraded, adding institutional and retail-level Vaults as well as the Plume Nest Points incentive mechanism.
• Acquired the institutional-grade staking platform Dinero, introducing staking products for cryptocurrencies such as ETH, SOL, BTC, etc., to enhance liquidity and product matrix on the institutional side.

Institutional Penetration

• Grove deployed $50 million to Apollo's private credit fund, demonstrating the capital efficiency of real assets on the chain.
• Ernst & Young chooses Plume to host its privacy L3 framework Nightfall.
• Mastercard has included Plume in its Start Path accelerator; Ant Group has integrated the Plume ecosystem into its wallet platform.

Compliance and Policy Promotion

• Obtaining SEC registered transfer agent qualifications, with the hope of serving large asset managers (such as BlackRock, Fidelity) to convert traditional securities into programmable assets.
• Hold multiple policy dialogues and industry roundtables in Washington, Hong Kong, Singapore, and South Korea to strengthen global regulatory engagement.

Global Ecological Expansion

• Launched over 85 dApps, covering asset tokenization funds, commodities, mining rights, infrastructure projects, etc.
• Establish the RWA Bridge project in the Asia region to assist regulated issuers in accessing the on-chain ecosystem.
• Brand and media exposure has significantly increased, participating in over 30 international conferences and collaborating with several research institutions to publish data and analysis reports related to RWA.

Looking Ahead: Plume Next Phase (Q4 and Beyond)

Plume has entered the transition phase from “scalable growth” to “institutional infrastructure”. Its future focus includes:

• The official launch of the new version of the Nest protocol focuses on deeply binding Vaults, incentive mechanisms (Nest Points) with $PLUME tokens, and building it into a hub for on-chain liquidity and value.
• Global exposure will be further enhanced, including attendance at major events such as Hong Kong FinTech Week and Abu Dhabi FinTech Week, strengthening its brand positioning as the infrastructure for physical assets on the blockchain.
• Deepen the platform (Exchange) layout, expand the global tradability and liquidity of $PLUME token.

Review

In the wave of tokenization of physical assets that is disrupting financial infrastructure, Plume's performance is undoubtedly commendable. It has not only achieved a leading position in the market quantitatively but has also advanced in multiple dimensions such as Compliance construction, institutional cooperation, and product services. For issuers, asset management institutions, or technology-driven financial service providers looking to bring traditional assets onto the blockchain, Plume's “chain + Compliance + institution” solution has high reference value.

If nothing unexpected happens, Plume is likely to become the core hub of the next stage of “on-chain asset native issuance + global circulation.”