How Plume Is Positioning for the $16 Trillion RWA Market

Bridging regulation and scaling the real-world asset market

and

Jul 16, 2025

This report was written by Tiger Research, analyzing Plume's strategic positioning in the $16 trillion RWA market through regulatory engagement in the U.S. and Hong Kong and ecosystem development.

TL;DR

Despite its projected long-term potential—estimated at $16 trillion by 2030—the real-world asset (RWA) market remains early-stage, constrained by regulatory uncertainty. In this context, direct involvement in regulatory design is emerging as a key strategic advantage.
Plume is building the infrastructure to bridge traditional finance and DeFi while participating in RWA regulatory frameworks in the U.S. and Hong Kong through Treasury/SEC engagement, direct communication with the Trump administration, and USD1 partnership.
With strong growth momentum (85% RWA value growth, 84% holder growth in 30 days) and active regulatory engagement, Plume is well-positioned to lead as the market develops.

🇰🇷 한국어로 읽기 →

1. An RWA Market Overview: Insights and Opportunities

The Real World Asset (RWA) market refers to the tokenization of real-world assets on the blockchain. It has become a key narrative within Web3 and is also gaining attention from traditional financial institutions.

However, the current state of the RWA market falls short of expectations. According to a BCG report, the market is projected to reach $16 trillion by 2030. However, the estimated size by 2025 is just $3.1 trillion—only 9% of the long-term forecast—highlighting a significant gap between potential and actual progress.

The primary constraint on growth is regulatory. In most jurisdictions, participation is limited to accredited and institutional investors. Additionally, asset classification varies by region—categorized as securities, commodities, or digital assets—creating further complexity.

As a result, RWAs have yet to deliver on one of their core promises: broader access to real-world assets.

That said, change is underway. Financial hubs such as the U.S., and Hong Kong are actively exploring frameworks to support the development of the RWA market. Regulatory bodies in these regions are increasingly engaging with industry stakeholders to define new regulatory structures, signaling a potential inflection point for the sector.

At this inflection point, identifying which RWA projects are actively contributing to regulatory development is essential. The ability to navigate and influence regulation will be a key factor in expanding the RWA market from institution-driven to more broadly accessible.

2. Plume's Vision for Real-World Asset Integration in DeFi

Plume is a full-stack blockchain specialized in the tokenization of real-world assets such as government bonds, private equity, alternative assets, and renewable energy.

Its core objective is to convert traditionally illiquid or inaccessible assets into digital tokens, thereby expanding access for a broader range of investors.

What distinguishes Plume isn't just "RWAs with DeFi" - it's a hybrid asset strategy that combines real-world assets with crypto-native assets to solve fundamental limitations in both markets. This creates new cross-market opportunities and enables broader scaling.

For example, investors use tokenized assets like nALPHA from Nest backed by different real-world assets as collateral for loans on Morph. This allows investors to purchase RWA products and utilize them within DeFi ecosystems, creating new financial products that combine traditional assets with DeFi functionality.

However, to expand its asset base and investor reach, Plume engages in not only ecosystem development but also regulatory work.

Specifically, Plume has established regulatory communication channels in the U.S. and Hong Kong, contributing to framework discussions. These efforts position Plume to influence industry standards and RWA market development.

2.1. Plumerica (U.S.)

In May, the team held meetings with the U.S. Treasury and the SEC’s crypto task force, followed by a direct discussion with President Donald Trump on cryptocurrency policy, tokenization, and the future of RWAs in the U.S.

While such meetings do not immediately translate into policy changes, they serve an important role in conveying industry perspectives to regulators. This engagement increases the likelihood that future frameworks will reflect real-world operational insights.

Tangible outcomes are beginning to emerge. One example is the “Innovation Exemption” proposed by SEC Commissioner Paul Atkins following discussions with Plume.

This provision would grant temporary regulatory relief under certain conditions to companies developing blockchain and on-chain services. It allows technologies such as smart contract-based DeFi platforms and tokenized on-chain assets to enter the market more rapidly, without being constrained by legacy securities laws. For projects like Plume, this represents a direct regulatory advantage.

Plume’s strategic positioning extends beyond regulatory engagement. The project has partnered with USD1—a stablecoin issued by World Liberty Financial, an entity with strong ties to the current U.S. administration. Although the partnership remains limited in scale, it establishes a direct connection to a politically linked stablecoin within the U.S. market.

These moves reflect Plume’s broader effort to build policy influence and establish a foothold in the world’s largest financial market. The initiative appears aimed at securing early leadership in shaping the U.S. regulatory and market landscape for RWAs.

2.2. Plume Kong (Hong Kong)

Plume’s regulatory strategy is not limited to the United States. The project is also expanding its presence in Hong Kong, a key financial hub in Asia.

On July 3, 2025, Plume co-hosted the "2025 Hong Kong New Policy Forum" with Web3Labs. The event featured the participation of Wu Jiezhuang, a member of the Legislative Council and a key figure in the Subcommittee on Web3 and Virtual Asset Development.

At the forum, Plume and Web3Labs jointly launched the "RWA Bridge Program." Designed to facilitate the integration of traditional finance with Web3 infrastructure, the program aims to support financial institutions in onboarding on-chain assets. It will focus on practical use cases across sectors such as private credit, U.S. Treasuries, and alternative assets.

In addition, Plume announced plans to participate in Hong Kong’s digital asset regulatory sandbox. This indicates a strategic intent to leverage the region’s innovation-oriented regulatory framework to accelerate RWA adoption and position itself as a primary on-chain distribution hub for assets and capital across the broader APAC market.

3. Building Momentum in the RWA Market Landscape

Are Plume’s regulatory strategies and government engagement efforts yielding tangible results? Recent data indicate that early outcomes are promising.

Plume’s structured ecosystem expansion strategy supports this progress. The project initially focused on establishing a core user base through its native DeFi platform, Nest. On that foundation, it launched a series of tokenized real-world asset products—such as USTB and nTBILL, both backed by U.S. Treasury securities—which contributed to a sharp increase in token holders.

Plume has also strengthened its technical infrastructure. The open-source tokenization engine, ARC, supports the issuance of a wide range of asset-backed tokens, while SkyLink, its interoperability solution, facilitates connectivity with other blockchains.

Leveraging this concrete ecosystem, Plume has actively pursued new partnerships to scale its ecosystem at an accelerated pace.

4. Positioned for the Next Phase of RWA Expansion

Plume faces clear limitations in scale. With $134.18 million in assets, it represents only 1% of the $13.3 billion tokenized asset market. But Plume's growth momentum tells a different story. Over the past 30 days, the platform recorded 85% growth in RWA value and 84% growth in RWA holders.

It remains outside the group of leading projects by size. However, Plume became the #1 chain globally by number of RWA holders (15K+), surpassing Ethereum within two weeks. Beyond scale metrics, Plume focuses on attracting real users and delivering functional experiences.

This momentum will likely accelerate further, supported by potential regulatory tailwinds from the platform's active engagement with policymakers.

Plume has established a distinct position in the RWA market. Strategic partnerships in key jurisdictions and a pipeline of over 200 active projects support ecosystem expansion. With this foundation, Plume is positioned to capture greater growth potential as regulatory frameworks mature.

🐯 More from Tiger Research

Read more reports related to this research.

Disclaimer

This report was partially funded by Plume. It was independently produced by our researchers using credible sources. The findings, recommendations, and opinions are based on information available at publication time and may change without notice. We disclaim liability for any losses from using this report or its contents and do not warrant its accuracy or completeness. The information may differ from others' views. This report is for informational purposes only and is not legal, business, investment, or tax advice. References to securities or digital assets are for illustration only, not investment advice or offers. This material is not intended for investors.

Terms of Usage

Tiger Research allows the fair use of its reports. ‘Fair use’ is a principle that broadly permits the use of specific content for public interest purposes, as long as it doesn't harm the commercial value of the material. If the use aligns with the purpose of fair use, the reports can be utilized without prior permission. However, when citing Tiger Research's reports, it is mandatory to 1) clearly state 'Tiger Research' as the source, 2) include the Tiger Research logo following brand guideline. If the material is to be restructured and published, separate negotiations are required. Unauthorized use of the reports may result in legal action.

Tiger Research Reports