@plumenetwork runs Plume Vaults, which hold $232.92 million in TVL on the five chains DefiLlama tracks, per DefiLlama on October 29, 2026. rwa.xyz counts 193,547 holder addresses of Plume Vaults assets on the same day. Plume lists the vaults on eight chains, Ethereum, Solana, Avalanche, Plume, BNB Chain, Arc, Monad and Robinhood Chain.
Plume started as a chain for real-world assets and now works as a distribution layer for them. One vault can reach Binance Wallet, Bybit, Fordefi, Robinhood Chain, Kamino and Morpho without a new stack for each venue. This report covers the platform first, then the vaults, the asset classes and the partners behind them.
01Plume is an Open Finance platform for institutional assets
Plume calls itself the Open Finance platform for institutional assets, per its nBND release on October 5, 2026. Plume says it has reached $1B+ in total assets minted and $250M+ in RWA TVL, per its October 15, 2026 post.
Plume Vaults have processed more than $900 million in deposits and $500 million in redemptions, per the nPRIME release on September 24, 2026. Apollo, WisdomTree and @FalconXGlobal have brought assets and strategies onchain through this infrastructure, per the same release.
The Plume chain itself holds $157.44 million in distributed RWA value across 986 assets and 257,684 RWA holders, per rwa.xyz on October 29, 2026.
02193,547 holder addresses across eight chains
Plume Vaults hold $134.49 million in distributed asset value across 13 RWAs, per rwa.xyz on October 29, 2026. Value grew 4.82% in 30 days, and monthly transfer volume reached $71.04 million.
Most of that value now sits off the Plume chain. rwa.xyz puts $38.1 million on Ethereum, $33.2 million on Solana, $29.9 million on BNB Chain, $28.1 million on Plume and $5.1 million on Avalanche C-Chain. @DefiLlama shows the same pattern, with Ethereum at $84.61 million and Plume at $76.89 million, per DefiLlama on October 29, 2026.
03Brazilian receivables lead the book
nOPAL is the largest Plume vault. It runs on Ethereum, Solana, Avalanche, Plume, BNB Chain, Arc, Monad and Robinhood Chain, and holds $120.98 million at a 10.81% APY, per DefiLlama yields on October 29, 2026.
@blackopal_fi manages nOPAL, and it is backed by Brazilian credit card receivables, per Plume on July 22, 2026. Merchants sell future card receivables at a discount for cash today. When Visa and Mastercard settle, BlackOpal collects the full amount. Around 70% of card transactions in Brazil are paid in installments, per Plume on August 27, 2026. BRL exposure is hedged through non-deliverable forwards, and a liquidity sleeve of USCC, nTBILL and cash supports redemptions.
Plume reports a 0% default rate since inception for nOPAL, and audits by 0xMacro and Spearbit, per its Avalanche launch post on July 22, 2026. nOPAL also has a Kamino lending market on Solana, which holds $9.46 million, per DefiLlama yields on October 29, 2026.
04Credit vaults from FalconX, Figure and OnRe
nFXCF is the FALX Structured Credit Facility, built with FalconX. It offers overcollateralized prime brokerage lending at a fixed monthly rate and can scale to about $1 billion, per Plume on September 8, 2026. nFXCF holds $15.02 million across Plume and Ethereum at an 8.05% APY, per DefiLlama yields on October 29, 2026.
nPRIME gives access to PRIME, the @HastraFi token backed by @Figure's Democratized Prime home equity market. Figure and its partners have originated more than $30 billion in home equity loans, per Plume on September 24, 2026. nPRIME holds $14.62 million on Ethereum at a 6.07% APY, per DefiLlama on October 29, 2026.
nONYC packages @onrefinance ONyc, a reinsurance-backed yield asset, for EVM chains starting with Monad and Ethereum, per Plume on October 13, 2026. ONyc has more than $225 million deployed across Solana DeFi, per the same post. Returns come from underwriting premiums and collateral, not token incentives.
FACTOR is a book of invoice factoring and working capital facilities, built with Tradable and Deep Ocean Partners, per Plume on September 9, 2026. It holds $10.41 million across Ethereum, Solana and Base at a 12.23% APY, per DefiLlama on October 29, 2026.
05Four credit vaults side by side
The four credit vaults pair a Plume wrapper with a specialist manager. Each one earns from a different real-world cash flow, and each one redeems on its own clock. nOPAL and nPRIME typically settle in days, while nFXCF settles at the end of each loan cycle and nONYC follows a monthly cycle.
Structure, manager and redemption terms come from the Plume vault directory and the nONYC vault page, both read on October 29, 2026. nOPAL dwarfs the rest, and nONYC is still early, with 22 holders on its vault page that day.
06Treasuries, bonds and basis trades
Plume launched nBASIS as its flagship institutional yield vault at the time. It holds @Bitwise's Crypto Carry Fund USCC and Invesco's USTB Treasury fund, both tokenized by Superstate, per Plume on July 8, 2026. USCC had more than $225 million in AUM and USTB more than $950 million at that date. nBASIS now holds about $148K, and Plume now calls nALPHA its flagship real-world yield vault, per the Plume vaults page on October 29, 2026.
nBND is a vault backed by the Fidelity Total Bond ETF FBND as its primary reserve asset, per Plume on October 5, 2026.
nTBILL runs on Ethereum, Solana, Plume, BNB Chain and Arc, with $5.1 million in TVL and a 3.7% target APY, per the Plume vaults page on October 29, 2026. nALPHA holds $12.31 million across Solana, Ethereum, Plume and Base at a 10.26% APY. nCLO holds $2.61 million at 4.72%. The nALPHA and nCLO figures come from DefiLlama yields on October 29, 2026.
07Distribution takes the vaults where users are
@BinanceWallet opened nBASIS to its users on July 8, 2026. Plume Vaults on BNB Chain now hold $29.9 million, per rwa.xyz, and nearly all of it is nOPAL, which DefiLlama puts at $31.27 million on the chain, per DefiLlama yields, both on October 29, 2026.
@Bybit_Official added nOPAL to its RWA Earn product on August 27, 2026, after earlier Plume vaults on the exchange. @FordefiHQ put nOPAL and nFXCF in front of its 300+ institutional customers, who move more than $120 billion onchain each month, per Plume on September 8, 2026. Each deposit runs through the customer's existing Fordefi approval policy.
@ether_fi runs the largest partner vault on the Plume vaults page, with 1 vault and $36.0 million in TVL on October 29, 2026.
Plume Vaults went live on @monad and @RobinhoodCrypto chain on October 8, 2026, starting with nOPAL and FACTOR. nOPAL reached Avalanche on July 22, 2026.
08DeFi puts vault tokens to work
@AerieCapital, a Plume Vaults curator, opened a Morpho lending market on Ethereum mainnet on September 10, 2026. Holders can borrow stablecoins against nALPHA, nOPAL, nBASIS and nFXCF and run looping strategies.
@kamino runs an nOPAL market on Solana. Pendle lists nOPAL, per Plume on August 27, 2026.
09Regulation backs the tokenization work
Plume registered with the SEC as a transfer agent on October 6, 2025. The transfer agent manages onchain and offchain shareholder records, issuance, transfers and dividends, with interoperability with DTCC, per Plume.
Plume also holds a Bermuda Monetary Authority license and is a member of the DTCC Digital Assets Solutions Industry Working Group, per Plume on August 27, 2026. Plume Vaults screen deposits for AML and U.S. sanctions at the vault level, per the same post.
Plume and Shinhan Asset Management signed an MOU for a proof of concept of a KRW-denominated tokenized fund on August 14, 2026. The pilot uses a Won ultra-short bond fund and runs in a third jurisdiction.
10More builders on Plume
Figures in this section come from rwa.xyz and DefiLlama on October 29, 2026.
Funds and issuers
Enzyme Onyx, OpenTrade, Superstate and Centrifuge lead the chain, and OpenTrade spreads its holdings across four assets. Circle holds $4.2 million and Mineral Vault $3.3 million. @matrixdock issues its XAUm gold token on Plume, per Plume.
DeFi on Plume
Nucleus holds $5.60 million on Plume, Sierra Protocol $6.03 million and Solera $1.22 million in lending, per DefiLlama. @mystic_finance runs a lending market on the chain and launched PLUME liquid staking on September 17, 2026. Stakers receive myPLUME and can use it as collateral for swaps and lending.
Infrastructure
Stargate holds $742.3K across two RWAs on Plume. @redstone_defi pushes NAV onchain for six Plume vaults on Ethereum, including nOPAL and FACTOR, per its October 13, 2026 post. @FordefiHQ added MPC custody support for the Plume chain on September 17, 2026.
11Conclusion
Plume Vaults turn institutional credit, Treasuries and bond funds into one token per strategy. Brazilian receivables lead the book, and FalconX, Figure, OnRe, Bitwise, Invesco and Fidelity supply the rest.
The bigger story is distribution. Most vault value now lives on Ethereum, Solana and BNB Chain, and users reach it through Binance Wallet, Bybit, Fordefi, Robinhood Chain, Kamino and Morpho. When an asset manager wants a product to travel, Plume is the wrapper that moves it.
Plume and OnRe are members of RWA Foundation but have no influence on the opinions of this report. Token Terminal is RWA Foundation's data partner. This report is for informational purposes only and is not investment advice.
