Plume just picked up one of the more consequential regulatory stamps in the tokenization space. The blockchain network’s Bermuda subsidiary, Kimber Digital Assets Bermuda ISAC Ltd. (KDAB), secured a Class M Digital Asset Business Licence from the Bermuda Monetary Authority (BMA) on May 20, making KDAB the world’s first regulated onchain vault manager.
Plume can now legally create and distribute vault tokens tied to tokenized institutional assets, things like private credit, real estate, and commodities, all while operating under anti-money laundering and know-your-customer standards comparable to those governing stablecoins.
What the licence actually enables
The Class M designation is one of three licence types available under Bermuda’s Digital Asset Business Act, a framework that has been in place since 2018. The island jurisdiction already hosts major crypto firms including Circle and Coinbase.
Vault tokens represent fractional interests in pools of tokenized institutional assets — wrappers around real-world financial products that live onchain, giving investors exposure to assets that traditionally required a private banking relationship and a seven-figure minimum.
