Over the last 90 days Plume's nOPAL added 1,598 holders, more than any other tokenized credit asset on rwa.xyz. Maple's Syrup USDT added 1,000 and Syrup USDC added 696.

The money followed: nOPAL grew from $49M to $117M, a 2.4x. The vault holds short-duration Brazilian consumer receivables from card purchases, settled in USD.

The bigger story is distribution. 83% of nOPAL sits outside Plume's own chain: $37.7M on Ethereum, $29.7M on BNB Chain and $25M on Solana.