Kimber Labs Inc, the builder of Plume, the Open Finance platform for institutional assets, announced that its Bermuda subsidiary, Kimber Digital Assets Bermuda ISAC Ltd. [KDAB], has been granted a Class M Digital Asset Business Licence by the Bermuda Monetary Authority [BMA] under the Digital Asset Business Act 2018.
A spokesperson said, “KDAB will be the first regulated onchain vault manager, combining the transparency and accessibility of decentralised finance with prudential oversight from a globally respected financial regulator. Plume is now among a small group of globally recognised firms, including Circle, Coinbase, and Kraken, that have selected Bermuda’s DABA framework as the regulatory home for their global operations, a peer group that reflects the BMA’s reputation as one of the most rigorous digital asset supervisors in the world.
“When the first exchange-traded fund launched on the Toronto Stock Exchange in 1990, it introduced a simple idea: diversified, professionally managed exposure that anyone could trade. It did not invent asset management but made it widely accessible. Over time, ETFs grew into a 14 trillion dollar industry, expanding market access, lowering fees, and shifting focus toward investors.
“KDAB’s regulated onchain vaults evolve the ETF model: users deposit assets, receive proportional shares, earn yield, and redeem at NAV. Unlike traditional funds, everything runs on immutable smart contracts instead of administrators or custodians. A curator manages and rebalances assets within fixed, hardcoded rules, preserving investment judgment without the ability to override structural protections or contract logic.
“Plume’s subsidiary, KDAB, is the first regulated vault curator licensed to create and distribute vault tokens under AML standards modeled after those applied to stablecoins under Bermuda law and the U.S. GENIUS Act.
A spokesperson added, “KDAB chose Bermuda because the BMA has built the most sophisticated regulatory framework for digital asset and real-world asset businesses in the world. The Class M DABA Licence subjects KDAB and each of its incorporated segregated accounts to rigorous prudential supervision, including:
‘Asset-liability management. Each KDAB vault operates through its own incorporated segregated account [“ISA”] 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 attested to by Bluprynt. The BMA’s prudential standards impose net asset requirements, liquidity risk management, and wind-down planning that ensure each ISA can meet the expectations of vault token holders at all times.”
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