Plume just got a Bermuda digital asset license to run regulated onchain vaults

Plume Network Secures Bermuda Regulatory Approval for Onchain Vaults

@plumenetwork said on Wednesday that its Bermuda subsidiary, Kimber Digital Assets Bermuda (KDAB), has been granted a Class M Digital Asset Business License by the @BermudaMonetary (BMA) under the Digital Asset Business Act 2018. The announcement marks a concrete step toward bringing traditional financial oversight to decentralized vault infrastructure.

KDAB will be the first regulated onchain vault manager, combining the transparency and accessibility of decentralized finance with prudential oversight from a globally respected financial regulator. Under the structure, users can deposit assets, receive proportional vault tokens, earn yield, and redeem at net asset value, with all activity governed by immutable smart contracts under BMA supervision.

Plume is now among a small group of globally recognized firms, including Circle, Coinbase, and Kraken, that have selected Bermuda's DABA framework as the regulatory home for their global operations.

What the License Covers

The Class M license subjects KDAB and each of its incorporated segregated accounts to rigorous prudential supervision. Each vault operates through its own incorporated segregated account under the Incorporated Segregated Accounts Act 2019, providing statutory ring-fencing, separate legal personality, and full bankruptcy remoteness.

Vault reserves are held onchain in non-custodial smart contracts with continuous, cryptographically verifiable proof of collateral. On the compliance side, KDAB maintains an AML program supervised by the BMA, including continuous transaction monitoring, AML screening at the vault-token level regardless of what blockchain protocols vault tokens are bridged to, and freeze-and-seize capabilities embedded directly in the vault token.

Plume describes KDAB as the first regulated onchain vault curator licensed to create and distribute vault tokens under AML standards modeled on stablecoin frameworks, including the US GENIUS Act. KDAB is also described as the first vehicle built to operationalize the legal pathway for US-registered master funds to be accessed by non-US feeder structures at onchain scale, pairing a BMA-supervised feeder structure with a programmable, globally distributable vault token.

Bermuda created one of the world's first digital asset business regimes with the passing of the Digital Asset Business Act 2018, and the framework offers three license categories, Class T, Class M, and Class F, providing a progressive regulatory pathway from early-stage operations to full institutional authorization. Plume said it will be announcing the new BMA-regulated KDAB vaults in the coming days and weeks.

Sources:
Plume Press Release: Plume Secures Bermuda Digital Asset License (PR Newswire)
Bermuda Monetary Authority: Digital Asset Business Overview