Plume’s Bermuda subsidiary has obtained a Class M Digital Asset Business Licence from the Bermuda Monetary Authority, making it the first regulated onchain vault manager operating under the island nation’s digital asset framework.
The license was granted to Kimber Digital Assets Bermuda ISAC Ltd., or KDAB, a subsidiary purpose-built for the occasion. It authorizes the entity to create and distribute vault tokens under AML and KYC standards that mirror Bermuda’s existing stablecoin regulations. In English: Plume can now package tokenized financial products, like Treasury-backed yield vaults, and offer them through regulated channels that institutional money actually trusts.
What the license actually covers
Plume isn’t going it alone on the product side. Centrifuge, one of the more established names in onchain credit markets, has been tapped as a key partner for Plume’s low-risk treasury vaults. Those vaults will utilize Anemoy’s regulated Liquid Treasury Fund, which offers exposure to AAA-rated yield products, primarily tokenized US Treasuries.
Why Bermuda, and why now
Bermuda has been quietly building one of the more coherent digital asset regulatory frameworks in the world. The Digital Asset Business Act, passed back in 2018, gave the island a significant head start over larger jurisdictions still debating basic definitions.
Plume itself is a Layer 1 blockchain built specifically for real-world assets. Since launching in early 2024, the network claims partnerships with over 150 RWA entities.
What this means for investors
Many institutional allocators can’t touch DeFi products, not because they don’t want to, but because their compliance departments won’t sign off on unregulated exposure. A BMA-licensed entity distributing vault tokens under formal AML standards removes that particular objection.
Plume is positioning against both pure-play RWA protocols like Centrifuge (which is also its partner here, creating an interesting dynamic) and the growing number of traditional asset managers dipping their toes into tokenization.
Be the first to comment