Quick take:
- The ipxETH, which boasts $125 million in total value locked, gives institutional investors access to Ethereum staking yields in compliance with regulations.
- The product already has ongoing partnerships with the likes of Galaxy Digital and Nomura’s digital asset arm, Laser Digital.
- The announcement comes after Plume secured SEC approval as a transfer agent, allowing it to offer tokenized securities on-chain and integrate with U.S. traditional banking systems.
Real-world asset tokenization protocol Plume Network has announced plans to acquire the institutional-grade, decentralized finance (DeFi) yield platform Dinero. Plume plans to integrate Dinero’s yield-bearing token, ipxETH, which will become a key anchor for its expanded DeFi yield offering.
The ipxETH, which boasts $125 million in total value locked, gives institutional investors access to Ethereum staking yields in compliance with regulations. The product already has ongoing partnerships with the likes of Galaxy Digital and Nomura’s digital asset arm, Laser Digital.
The announcement comes after Plume secured SEC approval as a transfer agent, allowing it to offer tokenized securities on-chain and integrate with U.S. traditional banking systems.
Commenting on the announcement, Teddy Pornprinya, Plume co-founder, told CoinDesk in an interview: “Right now, we’re doing a pretty large institutional push in the U.S., Asia, and breaking into the UAE market. What we wanted to do [with this acquisition] is to open up our product suite to onboard all types of institutional users.”
As part of the integration process, Plume plans to fold Dinero’s staking products, pxSOL, pxBTC, and the branded liquid staking token architecture used across multiple blockchains, with some of the assets becoming part of popular Plume products like PlumeETH.
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