Plume, a digital asset firm, has received a Digital Asset Business Licence from the Bermuda Monetary Authority. The approval allows the company to operate under Bermuda’s regulatory framework for virtual asset service providers.
What the licence covers
The Bermuda Monetary Authority grants licences under the Digital Asset Business Act 2018. The classification applies to firms handling digital asset custody, trading, or issuance. Plume’s licence authorizes it to offer services in the jurisdiction, though the company has not detailed which specific activities it will pursue first.
Why Bermuda
Bermuda has positioned itself as a regulated hub for digital asset businesses. The Monetary Authority requires applicants to meet capital, anti-money laundering, and governance standards. Plume’s successful application signals that the firm satisfied those requirements.
What comes next
With the licence in hand, Plume must now comply with ongoing reporting and operational rules. The company has not announced a launch date for services or disclosed whether it plans to target institutional or retail clients. The next regulatory filing deadline will offer a clearer picture of its planned activity.
