Plume secures a Bermuda Class M license for its subsidiary Kimber Digital Assets Bermuda, becoming what it calls the first regulated onchain vault manager.

The license under the Bermuda Monetary Authority’s Digital Asset Business Act 2018 brings full prudential oversight, including liquidity risk, capital requirements, and wind-down planning.

Plume’s vault system mirrors an ETF structure — users deposit assets, receive tokenized shares, and earn yield, but everything is executed via immutable smart contracts with onchain verification and no traditional custodial control.

The firm says this unlocks permissionless distribution of vault tokens globally, while staying compliant with AML standards and regulated infrastructure. Plume joins Circle, Coinbase, and Kraken in using Bermuda as a regulatory base for digital asset operations.