BounceBit Partners with Plume Network to Propel RWA Tokenization Growth
BounceBit has joined hands with Plume Network to enhance its real-world asset (RWA) offerings.
The collaboration will integrate Plume’s assets into BounceBit’s portal, expanding user access to diverse yield opportunities.
The RWA sector reached a record $7.61 billion in total value locked as on January 7.
BounceBit, a Bitcoin-native chain blending centralized and decentralized financial elements, recently its strategic partnership with Plume Network. Plume, an L1 modular blockchain designed for RWA finance, will bring its expertise to expand BounceBit’s foothold in the RWA space.
The announcement on January 7 highlights BounceBit’s ambition to meet the growing institutional demand for tokenized real-world assets. Notably, the chain is known for its successful track record in integrating RWA solutions, including its partnerships with Ondo Finance and USDY. It is a #2 basis trading protocol boasting over $600 million in unincentivized total value locked (TVL).
The latest partnership comes at a time of surging interest in the RWA tokenization sector, which recently an all-time high TVL across protocols.
As per the announcement, the duo aims to deliver a wide range of real-world yield opportunities through BounceBit’s portal. In the months ahead, BounceBit will integrate select Plume Network assets into its portal, allowing users to explore diverse yield options without compromising institutional-grade standards.
Notably, Plume Network brings a robust RWA ecosystem to the table, underpinned by over $4.5 billion in committed assets and 180 integrated protocols. Its full-stack RWA technology and end-to-end tokenization capabilities promise to further enhance BounceBit’s offerings.
“Diverse, stable, and composable yields are crucial for the advancement of RWAfi. We are thrilled to welcome BounceBit to the Plume ecosystem to support this progress and expand access,” Plume in a recent X post.
It is interesting to note that BounceBit has already engaged in discussions with major players looking to integrate its infrastructure. This suggests that the community could see a steady stream of announcements in the weeks to come.
Riding the RWA Wave
The RWA sector has seen massive growth in recent months, hitting a peak TVL of $7.61 billion across protocols on January 7. Predictions from financial institutions and consulting firms suggest the sector could balloon to between $4 trillion and $30 trillion by 2030. As per the by CoinGecko, top RWA tokens collectively hold a market cap of $20.7 billion at the time of writing. In particular, the largest RWA token, MANTRA (OM), currently boasts $3.74 billion in market capitalization.
Meanwhile, BounceBit’s native token, which is not an RWA token itself, currently trades at $0.4418, down by 1.5% in the past 24 hours. Despite this short-term drop in value, the token has steadily gained traction since its listing in November, with its market cap currently sitting at $215 million.