Plume Network has partnered with World Liberty Financial (WLFI) to make USD1 the official reserve asset for its native stablecoin, pUSD. Plume is a blockchain designed to bring real-world assets (RWAs) on-chain – it currently boasts a total value locked (TVL) of $231 million.
USD1, issued by WLFI – a decentralized finance (DeFi) project with ties to President Donald Trump – has a market capitalization of $2.2 billion, making it the seventh-largest stablecoin in circulation. The token is now live across the Plume ecosystem, including on Nest, the chain’s flagship staking protocol, according to a press release viewed by The Defiant.
The integration expands USD1’s reach and brings dollar-backed liquidity to Plume’s growing RWAfi infrastructure. According to analytics platform RWA.xyz, Plume’s RWA on-chain value has climbed 95% in the past month to $110 million, while its number of RWA wallet holders has surged 1,160% to over 124,000.
“USD1 provides users and institutions the opportunity to interact with the U.S. dollar, the world’s most respected currency in a crypto-native way,” Chris Yin, CEO and co-founder of Plume, told The Defiant. “For example, they’ll be able to collateralize the stablecoin to take loans on other assets.”
Yin said users will also be able to manage their finances more efficiently and send money across borders quickly. As more people start using stablecoins, everyday use cases like shopping, home loans, and investing in RWA assets could follow, he explained.
Meanwhile, Zak Folkman, co-founder and chief operating officer of WLFI, called the partnership the “first major milestone for USD1’s multichain expansion,” according to the release.
“Plume’s RWAfi infrastructure provides the perfect foundation for USD1 to bridge traditional finance with DeFi in a transparent, regulated way while continuing to further our shared mission of increasing accessibility and adoption for both institutions and everyday users,” Folkman added.
The partnership comes shortly after Plume’s Genesis mainnet launch, which debuted with more than $250 million in RWA capital, according to the release. It also comes as stablecoins remain one of the hottest sectors in DeFi.
According to DeFiLlama, the total stablecoin market capitalization currently stands at over $253 billion, a figure that has consistently grown over the past two years. Tether’s USDT continues to hold the top spot with a market cap of nearly $159 billion and a market share of over 62%. In second place with $61 billion is USDC, issued by Circle, which went public earlier this month on the New York Stock Exchange (NYSE).
Total market cap of all stablecoins. Source: DeFiLlama
