Plume Obtains License from Bermuda Financial Authorities

World’s First to Obtain Qualification
for Operating Global Institutional Digital Asset Investment Products

Plume Network, an institutional asset open finance platform, has obtained a business license from the Bermuda financial authorities.

Plume Network’s subsidiary, Kimbo Digital Asset Bermuda (KDAB), announced on the 20th (local time) that it has acquired a Class M digital asset business license from the Bermuda Monetary Authority (BMA). Class M is a license that the BMA grants for a limited period and scope, tailoring conditions to specific business models, scale, and risk. With this authorization, KDAB has become the world’s first to be able to carry out the entire process, including investment policy design, asset management, equity token issuance, and distribution.

Plume Network explained that the BMA, as Bermuda’s integrated financial supervisory authority, is regarded as one of the world’s most rigorous and systematic regulators in the field of digital assets. Global digital asset companies such as Circle, Coinbase, and Kraken also operate their businesses under BMA supervision.

Through its proprietary platform Nest, Plume has already been offering ‘Vaults,’ which allow investments in products from global asset managers such as Apollo, WisdomTree, and Hamilton Lane. A Vault is a digital investment product similar to an exchange-traded fund (ETF), but it selects and manages tokenized underlying assets and issues equity to investors.

The operational structure of Vaults is similar to that of ETFs. When investors deposit assets, proportional shares are issued; returns generated from the underlying assets are distributed; and redemptions are processed based on net asset value (NAV). The key difference from traditional ETFs is that the entire process is automatically handled by pre-designed contract code without intermediaries such as fund managers, transfer agents, or clearing brokers.

KDAB is currently operating products based on regulatory frameworks in the United States and Hong Kong, and plans to expand to products based on regulatory frameworks in other countries in the future.

Chris In, co-founder and CEO of Plume, stated, “If ETFs made institutional asset investing possible for anyone with a securities account, KDAB’s Vaults make it possible for anyone with an internet connection.”

This content was produced with the assistance of AI translation services.