Plume Receives Bermuda License for Regulated On-Chain Vault Manager

Plume, a blockchain platform focused on tokenizing real-world assets, has secured a digital asset business license from the Bermuda Monetary Authority for its subsidiary, Kimber Digital Assets Bermuda ISAC Ltd. The company announced the approval this week, stating it establishes the world’s first regulated on-chain vault manager.

The Class M license, granted under Bermuda’s Digital Asset Business Act 2018, subjects the subsidiary, known as KDAB, to full prudential oversight. This includes requirements for net asset levels, liquidity risk management, and wind-down planning. The license allows KDAB to issue and distribute vault tokens globally to anyone with an internet connection and a stablecoin.

The vault structure is designed to operate similarly to an exchange-traded fund. Users deposit assets, receive proportional shares, earn yield, and can redeem their holdings at net asset value. A key distinction is that the entire process is governed by immutable smart contracts, with a curator managing assets according to fixed, hardcoded rules instead of traditional custodians or administrators.

Chris Yin, Plume’s co-founder and CEO, said the license validates the model as a regulated...