Plume just became the first company in the world to operate a regulated onchain vault manager. The distinction comes courtesy of a Class M Digital Asset Business Licence from the Bermuda Monetary Authority, granted to Kimber Digital Assets Bermuda ISAC Ltd., a subsidiary of Plume’s parent company Kimber Labs Inc.
The licence allows Plume to create and distribute vault tokens that tokenize institutional-grade assets, think private credit, real estate, and commodities, all while operating under a compliance framework that mirrors Bermuda’s stablecoin regulations. In English: instead of just putting assets “on the blockchain” and hoping regulators don’t notice, Plume is building the vault infrastructure with AML and KYC baked in from day one.
What the licence actually means
Bermuda’s Class M licence isn’t a rubber stamp. It’s the same regulatory tier that governs firms like Circle, Coinbase, and Kraken on the island, subjecting holders to rigorous operational scrutiny covering asset-liability management, cybersecurity protocols, and ongoing compliance obligations.
The BMA-regulated vaults are expected to incorporate non-custodial smart contracts, verifiable collateral proof, and new methods for generating liquidity. That combination targets a specific audience: institutional and accredited investors who want blockchain’s transparency benefits without the regulatory ambiguity that has historically kept them away.
