Plume Secures Bermuda License for First Regulated Onchain Vault Manager

According to The Block, Plume has recently secured a digital asset business license from the Bermuda Monetary Authority for its subsidiary Kimber Digital Assets Bermuda ISAC Ltd., claiming to launch the world's first regulated onchain vault manager.

The Class M license, granted under Bermuda's Digital Asset Business Act 2018, subjects the firm to full prudential oversight, including net asset requirements, liquidity risk management, and wind-down planning. The license enables permissionless distribution of vault tokens to users globally. Plume's vault structure operates through smart contracts where users deposit assets, receive proportional shares, earn yield, and redeem at net asset value, with a curator managing asset rebalancing according to hardcoded rules.