- Ether.fi and Plume launched an RWA vault with a $25 million cap and 7.25% listed APY.
- Plume receives $100 million from ether.fi to support tokenized real-world asset yields.
- EtherFi Liquid RWA supports 70% LTV borrowing while users earn rewards on stablecoins.
Ether.fi and Plume have launched a real-world asset vault that gives stablecoin users access to tokenized yield products. The product connects ether.fi’s customer base with Plume’s open finance platform and supports institutional earn opportunities through on-chain infrastructure.
EtherFi Liquid RWA is live with a $25 million cap, while its variable APY was listed at 7.25% at launch. ether.fi is also deploying $100 million into Plume to support the product.
Eether.fi Users Gain Access to Tokenized RWA Yield
The allocation gives more than $6 billion in customer deposits access to real-world asset yield opportunities. According to the press release, the capital comes from ether.fi’s liquidity provider base, including funds, family offices, and high-net-worth individuals.
Charles Mountain, ether.fi’s head of ecosystem, said the allocation also includes managed funds from its liquid ETH, liquid USD, and liquid BTC vaults. Those vaults hold about $300 million in total value.
Mountain said ether.fi is seeing strong demand to earn products with institutional-grade risk. He added that users also want yield options with less exposure to DeFi complexity.
Through the new product, ether.fi users could access tokenized real-world asset yield inside the ether.fi app. Plume Nest Vaults would connect them with institutional-grade markets.
Mountain said these products were previously available mainly to select investors. This structure places them inside a platform already used by ether.fi customers.
Depositors could access traditionally restricted yield markets through Plume. The first allocation includes BlackRock’s iShares AAA CLO ETF, Fidelity Total Bond ETF, and FalconX’s Credit Pool.
EtherFi Liquid RWA is also live as spend collateral on EtherFi Cash. Users could earn rewards on stablecoins while unlocking spending power through the company’s card and cash product.
RWA Vault Adds Layer to Onchain Banking Push
However, borrowing is supported at 70% loan to value (LTV). That feature links the vault to Etherfi Cash and adds another use case for stablecoin positions.
The launch expands ether.fi’s push into on-chain banking. Earlier this year, the company said EtherFi Cash will migrate to Optimism’s OP Mainnet.
That migration would move active cards, accounts, and user assets to support faster and more scalable payments. The RWA vault adds another product layer to that plan.
Traditional finance firms have also increased tokenization work over the past year. Apollo, WisdomTree, Hamilton Lane, and BlackRock have expanded blockchain-based access to financial products.
Plume said vault products can package tokenized yield opportunities in one structure. This model could reduce the need for users to interact with several protocols separately.
Plume said its vaults are non-custodial and built with compliance controls. The company described the framework as part of its compliance-aware architecture. It linked the structure to its Bermuda license and SEC transfer-agent registration through Kimber Transfer Agency
With ether.fi involved, the vault gains access to a large restaking and crypto yield user base. The company also described itself as one of the largest crypto card providers.
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