[PRESS RELEASE – New York, United States, January 3rd, 2025]
Plume Network, the first full-stack modular layer-1 blockchain focused on Real World Asset Finance (RWAfi), is thrilled to announce a partnership with Purpose for Profit (PFP), the world’s first on-chain endowment and tokenized credit fund dedicated to providing below-market-rate loans to businesses building quality affordable housing. This collaboration marks a pivotal step in democratizing financial opportunities while advancing sustainable and equitable development.
At the core of this partnership is a shared vision to leverage blockchain for greater transparency, inclusivity, and impact. PFP’s innovative model utilizes the blockchain to document all loans disbursed, payments received, assets under management, and token activities—both onchain and offchain. By doing so, PFP ensures transparency for investors and stakeholders.
Through PFP’s PURPOSE token, individuals can stake their way into impact investing by essentially taking a liquidity provider position. Token holders can earn a portion of revenues from interest on loans repaid, all without management fees or penalties for early exits. This accessible model empowers participants to support impactful ESG initiatives, starting with affordable and mixed-income housing projects that provide below-market-rate loans to businesses.
“Plume Network is proud to support Purpose for Profit in their efforts to merge blockchain innovation with meaningful, real world impact,” said Chris Yin, CEO and founder of Plume. “This partnership is a testament to the transformative potential of blockchain technology when aligned with shared values of sustainability, equity, and transparency.”
Together, Plume Network and Purpose for Profit aim to onboard over 1 million new participants from sectors like real estate, construction, non-profits, and philanthropy into Web3. This effort aligns with PFP’s mission to create a globally inclusive financial community, blending traditional cooperative principles with progressive decentralization powered by blockchain.
“Plume Network’s architecture is the foundation for the next phase of blockchain innovation, it enables solutions that will onboard the next wave of adopters. We’re excited to launch with Plume and bring RWA to the masses,” said Elizabeth Kukka, CEO of Purpose for Profit.
This partnership reinforces Plume Network’s commitment to fostering real world asset tokenization and creating a robust ecosystem for projects driving societal good. By integrating PFP into the Plume ecosystem, users will gain access to tokenized impact investing opportunities and transparent financial mechanisms, seamlessly merging the power of DeFi with tangible ESG outcomes.
About Purpose for Profit (PFP)
Purpose for Profit is the world’s first tokenized lending fund and on-chain endowment for ESG initiatives. Focused on affordable housing, PFP leverages blockchain to create a transparent, inclusive, and progressive model for impact investing.
Users can learn more at https://purposeforprofit.com/
About Plume Network
Plume is the first public blockchain purpose-built for RWAfi, enabling the rapid adoption and demand-driven integration of real world assets. With 180+ projects building on the network, Plume offers a composable, EVM-compatible environment for onboarding and managing diverse real-world assets. Coupled with an end-to-end tokenization engine and a network of financial infrastructure partners, Plume simplifies asset onboarding and enables seamless DeFi integration for RWAs so anyone can tokenize real world assets, distribute them globally, and make them useful for native crypto users.
Users can learn more at https://www.plumenetwork.xyz/ or contact [email protected].
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