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Plume Network, a blockchain focused connected tokenized real-world assets (RWAs), is acquiring Dinero Protocol to bring institutional-grade output products for ether (ETH), Solana's SOL (SOL) and bitcoin (BTC) straight into its ecosystem.
Dinero’s flagship staking product, the ipxETH yield-bearing token that has drawn $125 cardinal successful full worth locked, volition go a cardinal anchor for Plume’s expanded decentralized concern (DeFi) output offering. The token gives organization investors entree to Ethereum staking yields successful a compliant mode successful partnerships with firms similar Galaxy (GLXY) and Laser Digital, the integer plus limb of Japan's Nomura bank.
Plume, backed by investors specified arsenic Brevan Howard, Galaxy, Haun Ventures and Apollo Global Management, offers a wide scope of yield-generating strategies including tokenized assets similar backstage credit, aiming to span DeFi and RWAs for retail and organization investors. Assets connected the protocol has swelled implicit $360 cardinal since its mainnet launch successful June, DeFiLlama data shows.
The latest quality comes conscionable days aft Plume secured support arsenic an SEC-regulated transportation agent, allowing it to grip tokenized securities onchain and integrate with U.S. accepted concern infrastructure similar DTCC's colony network.
The Dinero acquisition volition bring much tools and engineering endowment in-house arsenic the squad is expanding globally eyeing organization request for crypto exposure, Teddy Pornprinya, Plume co-founder said successful an interrogation with CoinDesk.
"Right now, we're doing a beauteous ample organization propulsion successful the U.S., Asia and breaking into the UAE market," helium said. "What we wanted to bash [with the Dinero acquisition] is to unfastened up our merchandise suit onboard each types of organization users."
In summation to ipxETH, Plume volition fold Dinero's staking products pxSOL, pxBTC and branded liquid staking token architecture utilized crossed 8 blockchains. Some of these assets volition modulation to autochthonal Plume products similar plumeETH.
The woody has not closed yet but the parties signed a definitive statement and binding word sheet, a spokesperson said.
Read more: PLUME Rises 25% arsenic Network Registered by SEC arsenic Transfer Agent for Tokenized Securities
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