Plume, the Layer-1 blockchain built specifically for real-world asset tokenization, announced that its Bermuda subsidiary has been granted a Class M Digital Asset Business Licence by the Bermuda Monetary Authority. The subsidiary, Kimber Digital Assets Bermuda ISAC Ltd. (KDAB), is now authorized to create, manage, and distribute tokenized institutional assets through blockchain-based smart contracts.

KDAB is now positioned as the first regulated on-chain vault manager, which means it can handle funds, securities, private credit, real estate, and commodities under a legitimate compliance framework.

Dual-jurisdiction compliance play

The Bermuda licence doesn’t exist in a vacuum. Plume has also secured registration as a transfer agent with the US Securities and Exchange Commission, creating a dual-jurisdiction compliance setup that straddles two of the more significant regulatory environments for digital assets.

Plume can now operate under Bermuda’s digital asset rules while simultaneously meeting US securities requirements.

The Bermuda licence was issued under the Digital Asset Business Act 2018, which established a tiered licensing system specifically designed to foster innovation while maintaining oversight. The BMA’s framework requires compliance with AML and KYC standards. KDAB’s operations will need to meet those standards as part of the island nation’s broader stablecoin and digital asset regulatory architecture.

Plume’s parent company, Kimber Labs Inc., appears to have structured this deliberately, with the dual-registration approach creating redundancy in compliance.

What this means for investors

US SEC transfer agent registration means Plume can handle the record-keeping and ownership transfer functions that securities require under American law. The Bermuda licence covers the actual management and distribution of tokenized products. Together, they create a pipeline that starts with asset origination and ends with compliant on-chain distribution to institutional and accredited investors.

Operating under BMA oversight means ongoing compliance costs, reporting requirements, and operational overhead. Whether Plume can manage institutional-grade compliance while maintaining the efficiency advantages of on-chain infrastructure will determine whether this licence becomes a competitive moat or just an expensive piece of paper.