Plume Network Makes History as First Crypto Entity Approved by SEC as Transfer Agent for Tokenized Assets
Plume Network, a pioneering crypto entity, has been approved by the U.S. Securities and Exchange Commission (SEC) as a transfer agent for tokenized assets. This marks a significant milestone in integrating blockchain technology with traditional finance, as Plume becomes the first native crypto entity to hold this role traditionally dominated by Wall Street's recordkeepers.
Plume's innovative system connects directly with SEC and Depository Trust & Clearing Corporation (DTCC) infrastructure, creating a vital bridge between decentralized ledgers and U.S. financial regulation. This approval allows Plume to offer compliant recordkeeping, trade tracking, and fund administration for tokenized assets within U.S. regulatory frameworks.
Plume has already demonstrated its prowess by onboarding over 200,000 asset holders and facilitating over $62 million in tokenized assets via its Nest Credit protocol. The network's on-chain transfer agent can simplify and expedite tokenization processes, reducing timelines from months to weeks. This efficiency is set to attract traditional asset managers, opening up a $39 trillion market of 40 Act funds to regulated tokenization in the U.S.
Plume's network enables on-chain Initial Public Offerings (IPOs), small-cap fundraising, and registered fund issuance in compliant settings. By streamlining these processes, Plume is poised to revolutionize the way securities are created, managed, and settled in the digital age.
Plume Network's SEC approval as a transfer agent for tokenized assets is a game-changer. It paves the way for wider adoption of blockchain technology in traditional finance, simplifies tokenization processes, and opens up new avenues for fundraising and investment. As Plume continues to innovate, it is set to transform the U.S. financial landscape, one tokenized asset at a time.
