A startup called Plume has raised $10 million in seed funding for its project, which it claims will be the first layer-2 blockchain built specifically for real-world assets. While Haun Ventures led the investment round, Galaxy Ventures, Superscrypt, A Capital, SV Angel, Portal Ventures and Reciprocal Ventures also participated.

The Ethereum-based Plume blockchain is touted as a one-stop shop for easily moving off-chain assets onto the blockchain. This protocol helps users with the paperwork, custody requirements, and other preparation steps needed to move assets such as real estate, works of art, and certain financial instruments onto the blockchain.

“The RWA industry is one of the fastest growing sectors in the cryptocurrency market today, but there remains a critical gap – to date, a fully-featured permissionless blockchain has not been developed to compliantly distribute any asset class,” the company explained in a statement shared with CoinDesk. “Plume’s powerful DeFi ecosystem allows users to do anything with RWAs, including earning yield, borrowing/lending, trading, and speculating with leverage.”

Plume’s underlying technology is based on Arbitrum Nitro, a framework used to build layer-2 “rollup” chains that write transactions to Ethereum quickly and with low fees. This technology should enable the chain to interact with other chains in the Arbitrum Orbit ecosystem and easily exchange assets. This ecosystem is a collection of other rollups built using the same framework.

“When we started talking about protocols, everyone said the same thing: ‘Before we even start writing code for a protocol, it can take anywhere from six months to two years to transfer an asset onto the chain,’” Plume co-founder Chris Yin said in an interview with CoinDesk. “This is a ridiculous thing to do. It means repeating the same work for every protocol. We want to standardize it,” he said.

Yin explains that Plume “has a pretty comprehensive feature set for tokenizing assets. These include setting up your organization, filling out the necessary paperwork, storing assets, wallets, automatic setup, stake table management, moving assets in and out of the system, and customer recognition. That’s all we do.” “We take products, integrate them, create a beautiful user interface, and make sure they’re modular.” said.

According to Yin, Plume currently has more than 80 projects deploying real-world assets on its private testnet. “Everything from collectibles to private lending to real estate is moving to Plume,” he said.

Yin said Plume plans to launch its testnet to the public “in a month or less,” followed by the full release.