Plume has secured a Bermuda Digital Asset Business Licence for its Bermuda subsidiary, Kimber Digital Assets Bermuda ISAC Ltd., giving the RWA-focused network a regulated route to launch onchain vault products under Bermuda Monetary Authority supervision.
The approval is a Class M licence under Bermuda’s Digital Asset Business Act 2018. That licence category sits below a full Class F licence and is designed for firms expanding operations for a limited period under the BMA’s digital-asset framework.
Plume is using the licence to build regulated onchain vaults that allow users to deposit assets, receive proportional vault tokens, earn yield and redeem at net asset value. The structure is designed to bring asset-management mechanics onchain while keeping regulated oversight, AML controls and reserve-backed product design around the vaults.
The licence also places Plume’s Bermuda unit inside the same digital-asset regulatory environment used by major crypto firms with Bermuda operations, including Circle, Coinbase and Kraken. For Plume, the approval strengthens its push to make tokenized institutional assets usable inside DeFi-style markets without relying only on offshore, unregulated wrappers.
Vault Tokens Bring Asset Management Closer To DeFi
Plume’s vault model is aimed at the middle layer between traditional funds and open onchain markets. A vault can hold assets, issue shares as tokens and allow redemptions through smart contracts, while the curator manages assets within fixed rules instead of unlimited discretion.
That design matters for real-world assets because tokenized finance still needs clear answers around reserves, custody, redemption, investor screening, AML checks and product governance. A tokenized fund or vault is not just a ticker on a blockchain. It carries legal structure, asset backing, operating rules and compliance obligations that decide whether the product can scale beyond crypto-native users.
Plume has already been expanding its regulated RWA footprint. The project previously secured an ADGM commercial licence for Middle East RWA expansion, and its network has become one of the more visible names in onchain asset distribution. Recent RWA market data also placed Plume among the leading networks by holder count, showing how quickly the sector is moving beyond tokenized Treasuries alone.
Bermuda Pushes Deeper Into Tokenized Finance
Bermuda’s digital-asset framework gives licensed firms a path for activities such as token issuance, digital-asset payment services, exchanges, trust services, custody, derivatives, services vendors and digital-asset lending or repurchase transactions. The Class M route gives firms a supervised growth stage before full authorisation.
For Plume, the licence helps connect Open Finance branding with a regulatory structure that institutional users can understand. Onchain vaults may be accessible through wallets and stablecoins, but serious adoption still depends on whether users trust the reserves, redemption process, compliance controls and legal separation around each product.
The timing also fits the broader tokenization cycle. The tokenized RWA market has been expanding across Treasuries, credit, funds, commodities, equities and real estate, while stablecoins remain the cash leg for subscriptions, redemptions, collateral and settlement. Recent tokenized RWA market coverage showed the sector moving above the $31 billion area, with productive collateral becoming a stronger theme across onchain finance.
Plume’s Bermuda licence gives the project a regulated foundation for vault products, but execution now shifts to product launch, asset quality, user eligibility, reserve transparency and redemption reliability. The milestone moves Plume closer to regulated onchain asset management, while the real test will be whether vault tokens can deliver institutional-grade protections without losing the open access and composability that made DeFi useful in the first place.
Be the first to comment