Tokenization · Circle · Coinbase · The Block
Plume locks in Bermuda license for what it calls first regulated onchain vault manager
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Plume, a blockchain built for real-world asset tokenization, has secured a digital asset business license from the Bermuda Monetary Authority for its subsidiary Kimber Digital Assets Bermuda ISAC Ltd., enabling what it claims is the world's first regulated onchain vault manager.
Key facts
- Plume (PLUME), which launched its mainnet in June 2025 with $150 million in real-world assets already deployed, has built tokenization infrastructure spanning solar farms, private credit, Medicaid
- The Class M license, granted under Bermuda's Digital Asset Business Act 2018, subjects KDAB to full prudential oversight, including net asset requirements, liquidity risk management, and wind-down
- Each vault operates through its own incorporated segregated account under Bermuda's Incorporated Segregated Accounts Act 2019
- Apollo Global Management made a strategic investment in the network in April 2025
Summary
The Class M license, granted under Bermuda's Digital Asset Business Act 2018, subjects KDAB to full prudential oversight, including net asset requirements, liquidity risk management, and wind-down planning. The license also allows the firm to distribute vault tokens permissionlessly to anyone with an internet connection and a stablecoin. The key difference is that everything runs on immutable smart contracts rather than on administrators or custodians, with a curator managing and rebalancing assets according to hardcoded rules. "The ETF was the last great structural innovation in asset management," Chris Yin, co-founder and CEO of Plume, said in an announcement.