EtherFi is deploying $100 million into Plume to power its institutional earn product. The move gives the platform's more than $6 billion in customer deposits access to real world asset yield opportunities through Plume's open finance system.
The launch brings EtherFi Liquid RWA live as a new vault for earning institutional-grade rewards on stablecoins. The vault has a $25 million cap, with a variable APY currently at 7.25%.
Through Plume, the product provides depositors access to traditionally restricted yield markets, including high quality fixed income and institutional credit. The initial 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 at 70% loan to value, enabling users to earn rewards on stables while unlocking spending power through the company’s card and cash product.
This launch extends EtherFi’s broader push into onchain banking. Earlier this year, the company said EtherFi Cash would migrate to Optimism’s OP Mainnet to support faster and more scalable payments.