Plume USD

The settlement dollar of Plume, a layer-1 chain built for tokenized real-world assets, pUSD exists to give that network a clean unit of account. Issued through the Plume Foundation, it is a non-yield-bearing wrapper backed one-for-one by USDC held in an onchain vault; Plume itself performs no fiat conversion or custody and holds no stablecoin license, so the underlying trust rests on Circle's regulated dollar. Minting and redeeming are permissionless and fee-free, swapping pUSD for USDC one-to-one through the contract, with wallet-level OFAC screening but no personal KYC. That makes it a collateral claim on pooled USDC rather than an independent reserve currency. With native USDC and Circle's cross-chain transfer protocol now live on Plume, pUSD serves mainly as the liquid dollar rail for trading and collateralizing tokenized assets on the chain rather than as a stablecoin anyone holds for its own sake.