Plume has obtained a digital asset business license from the Bermuda Monetary Authority, making it the first regulated on-chain vault manager and giving the real-world asset protocol a formal place inside one of crypto’s best-known regulatory regimes.
Summary
- Plume said it received a Bermuda digital asset business license.
- The protocol says the approval makes it the first regulated on-chain vault manager.
- The move places Plume alongside firms operating under Bermuda’s digital asset framework, including Circle, Coinbase, and Kraken.
Plume announced the approval in an official post on X, where it said the Bermuda Monetary Authority had granted it a digital asset business license and called the milestone a first for on-chain vault management. The license gives Plume a regulated foothold in Bermuda as the jurisdiction pushes deeper into tokenization and blockchain-based financial infrastructure.
The development matters because Plume is not a generic Layer 1 pitch anymore. In a public letter to the Bermuda regulator, the company argued for an “activities-based, outcomes-focused” framework for asset tokenization, making clear that it was pushing for formal rules around how tokenized assets are issued and managed.
Plume has also been expanding the operating side of that strategy. In crypto.news coverage of its Genesis mainnet, the company said an earlier alpha phase had already seen more than $150 million in real-world asset capital deployed on-chain.
Bermuda deepens its on-chain push
Plume’s arrival under the Bermuda framework places it in the same regulatory orbit as firms such as Circle and Coinbase, which were central to the government’s plan for a fully onchain national economy. That initiative was also detailed by Circle, which said Bermuda wanted to become “the world’s first fully onchain national economy” with support from both companies.
The implication is obvious: Bermuda is trying to build not just a friendly licensing venue, but a genuine operating environment for regulated on-chain finance. Kraken has also been part of that digital asset ecosystem, with Binance noting that the exchange launched derivatives trading in Bermuda under a BMA license.
Why the license matters
For Plume, the approval strengthens its attempt to occupy a narrow but valuable category: compliant on-chain asset management for tokenized real-world assets. The protocol’s public materials describe Plume as a blockchain built to bring real-world assets on-chain and make them usable in DeFi, rather than leaving them as static representations disconnected from market utility.
That strategy has appeared consistently across its rollout. Crypto.news coverage of tokenized real estate has pointed to a market that Deloitte expects could reach $4 trillion by 2035, while a separate crypto.news interview detailed Plume’s ambition to scale tokenized real estate to that same level. Bermuda’s license does not prove the model works at scale, but it does give Plume something most on-chain vault protocols do not have: regulatory legitimacy attached directly to the vault business itself.
