Incredible Rise of PLUME: SEC Grants Transfer Agent Status, Investors Rejoice! 🎉

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Markets

What to know:

  • Ah, Plume Network has somehow piqued the interest of the SEC and now boasts the title of registered transfer agent. 🎊
  • Not to mention, it’s already charming 40 Act funds like an irresistible belle at a ball. 💃
  • Also on the to-do list: obtaining additional licenses, meaning they’re clearly not here to play! 🎯

In a delightful turn of events, the illustrious Plume Network, a modular Layer 2 blockchain devoted entirely to real-world assets (RWAs), has secured the esteemed endorsement of the SEC as a transfer agent. This development remarkably simplifies the issuance, transfer, and management of tokenized securities. Oh, what a world!

In fact, the network’s noble native token (PLUME) ascended like a phoenix by a staggering 25% following this good news, with daily trading volume skyrocketing by 186%, or so tokens would have us believe, according to CoinMarketCap. 📈

As a registered transfer agent, Plume shall now delicately handle digital securities and shareholder records, all onchain, as if flipping a pancake, and is lucky enough to be dancing hand in hand with the U.S. Depository Trust & Clearing Corporation (DTCC) settlement network, according to their sweet nothings shared with CoinDesk.

Furthermore, it will elegantly facilitate a multitude of use cases, including enticing onchain IPOs, faintly profitable small-cap fundraising, and registered funds. Most impressively, this groundbreaking technology aspires to shrink the bedeviling tokenization timelines from the nebulous span of months to mere weeks through the wondrous magic of smart-contract automation. ✨

Plume’s newfound status brings a much-needed platform of regulatory artistry for venerable institutions such as BlackRock, Fidelity, and Apollo, who are desperately seeking a compliant avenue for on-chain asset transfers-a truly noble quest! 🎓

“At Plume, we hold the audacious belief that regulations for transfer agents exist to safeguard the rights of our precious investors,” proclaimed the illustrious Chris Yin, CEO and Co-Founder of Plume. “With this splendid onchain transfer agent protocol, we are, in dramatic fashion, streamlining the issuance of digital securities while engaging in warm partnerships with our regulators,” he added, possibly with a twinkle in his eye.

As for the crypto industry? Oh, it has been feverishly searching for that ever-elusive bridge between the swift pleasures of DeFi and the genteel comforts of TradFi’s safeguards. With this coveted license, Plume distills itself as the ideal solution to all this melodramatic fuss, just waiting to be crowned! 👑

Now, let’s clarify: a transfer agent, in the traditional sense, is that unassuming financial institution that manages the sensitive business of maintaining records of a company’s shareholders, managing ownership changes, issuing stock certificates, and possessing the rather tiresome task of handling dividend payments.

Enter the blockchain transfer agent, such as our dear Plume, which performs similar functions on-chain with a flourish, using the illustrious distributed ledger technology that offers nothing less than a secure, immutable, and oh-so-transparent digital record of asset ownership and transfers. Truly marvelous! 🌟

Plume’s triumph is the result of its vigorous courtship with regulatory bodies, including its passionate contributions to the enchanting discussions surrounding the GENIUS Act. This announcement conveniently follows SEC Commissioner Hester Peirce’s recent remarks, where she expressed the regulator’s willingness to engage with audacious issuers of real-world asset tokenization projects. How delightful! 🎭

Initial product rollout likely in Q1 2026

Plume’s audacious transfer agent is now humming harmoniously, allowing interested funds to waltz into Plume’s infrastructure with immediate effect, even as the broader regulatory landscape is yet a canvas awaiting the graceful strokes of evolution.

Building upon this foundation, Plume intends to unveil its breathtaking initial product offerings, completing the first act with Nest protocol vaults in the esteemed first quarter of 2026. Within the network, Nest is a most significant protocol, dedicated to the art of staking mechanisms for real-world asset (RWA) protocols.

Nest decorously permits fund managers to concoct vaults backed by firm financial instruments. Individual users can elegantly deposit stablecoins into these vaults to earn yield from the underlying real-world assets, all in a permissionless manner-truly a dream come true! 🌈

Targeting 40 Act funds

Oh, but wait-Plume has already caught the eye of those SEC-registered investment funds known as the illustrious 40 Act funds! And although the murky waters of regulatory challenges such as asset custody issues may hinder their steps, the company anticipates these to ebb away as the SEC sprinkles rules throughout 2026, with conclusive charm by 2027.

These coveted 40 Act funds are publicly offered, pooled investment vehicles like open-end mutual funds, closed-end funds, and unit investment trusts sprinkled throughout the Investment Act of 1940-a truly venerable legacy!

The timing of such habits aligns superbly with a notable market shift towards onchain securities, positioning Plume gallantly at the forefront of this enchanting transition.

“The license empowers Plume to champion the migration of offchain securities into compliant digital forms, especially regarding the 40 Act funds-the venerable backbone of the U.S. asset management industry representing a staggering $39 trillion,” the firm professed to CoinDesk, amidst gasps of admiration.

Plume is also eagerly seeking additional licenses, such as Alternative Trading System (ATS) and broker-dealer registrations, to artfully construct a fully compliant onchain capital market infrastructure for the legendary 40 ACT funds. UPDATE, Oct. 6, 15:22 UTC: Changes headline and adds paragraph to include token move.

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2025-10-06 19:45