The recent approval of Plume (PLUME) as a registered transfer agent of tokenized securities by the US Securities and Exchange Commission (SEC) has sent waves through the crypto market. This milestone for Plume has not only boosted the PLUME token by 31%, but it has also paved the way for a new era of compliance and efficiency in the world of blockchain.
With this registration, Plume can now manage shareholder records, trades, and dividends on-chain, all while connecting cap tables and reporting directly to the SEC and the Depository Trust & Clearing Corporation (DTCC) systems. This move brings traditional transfer agent operations to the blockchain, with native compliance tools ensuring that regulatory standards are met.
Plume’s transfer agent goes beyond just managing records and trades. It also enables on-chain cap table and trade reporting to the SEC and DTCC, as well as providing native fund administration for issuers and asset managers. This allows for faster onboarding without compromising regulatory compliance, a crucial aspect in the ever-evolving world of digital assets.
According to Plume, this registration is just the first step in their journey to build fully compliant tokenized capital markets. With over 200,000 real-world asset holders and $62 million in tokenized assets onboarded through their Nest platform in just three months, Plume is setting the stage for the future of tokenization in the US.
This approval comes at a time when US regulators are working towards harmonizing digital asset oversight. The recent joint roundtable between the SEC and the Commodity Futures Trading Commission (CFTC) on Sept. 29 highlighted the need for streamlined regulation to encourage innovation and keep crypto activity onshore.
The CFTC’s initiative to enable tokenized collateral in derivatives markets, including stablecoins, further supports the growing trend towards tokenization in the US. With Plume’s transfer agent registration linking their platform directly to federal reporting systems, they are at the forefront of regulatory advancements in the tokenized securities market.
In conclusion, Plume’s approval as a registered transfer agent of tokenized securities marks a significant step forward in the evolution of blockchain technology. As the US regulatory landscape continues to evolve, platforms like Plume are leading the way in creating compliant and efficient solutions for the digital asset industry.