In this episode of the WuBlockchain Podcast, we speak with Chris Yin, co-founder and CEO of Plume, about RWA adoption, onchain yields, liquidity risks, and the future of tokenized assets. Chris argues that while stablecoins have proven the potential of RWAs, the bigger challenge is no longer tokenization itself, but distribution and liquidity.

Chris discusses RWA products offering 12%–15% yields and the underlying credit, custody, and liquidity risks investors need to understand. He also explains why secondary markets remain underdeveloped and why instant liquidity cannot always be guaranteed.

Looking ahead, Chris expects growing competition from traditional financial institutions and sees distribution and product design as key differentiators. He believes the next phase of RWAs will extend beyond tokenization into onchain derivatives, secondary markets, and investment products combining crypto and traditional assets.

Timeline:

00:00 What Is Plume Building in the RWA Market?

01:06 Why Chris Founded Plume

03:05 Why Stablecoins Are the Most Successful RWA Use Case

05:55 Why Do Crypto Users Need RWAs?

09:13 Why RWA Distribution Matters More Than Tokenization

11:54 Balancing Yield, Risk, and Liquidity in RWAs

14:55 Where Do High RWA Yields Come From?

19:21 Managing Redemptions During Market Downturns

22:13 Investor Restrictions and Global RWA Access

26:13 How Plume Competes With Traditional Finance

32:57 Key RWA Trends Over the Next 2–3 Years

34:48 Beyond Tokenization: Onchain Derivatives and Portfolios

38:31 Plume’s Push for a U.S. Broker-Dealer License