Key Points
- Plume Network has become a registered transfer agent with the U.S. Securities and Exchange Commission.
- The firm plans to streamline tokenization processes and support onchain IPOs, small-cap fundraising, and registered funds.
Plume Network, a Layer 2 modular for tangible assets, has successfully registered as a transfer agent with the U.S. Securities and Exchange Commission (SEC). This registration permits Plume to manage official shareholder records and handle the issuance and transfer of digital securities directly onchain.
Plume Network and DTCC
Plume’s protocol is engineered to work seamlessly with the DTCC settlement network. The firm is aiming to support various use cases such as onchain IPOs, small-cap fundraising, and registered funds. Its goal is to reduce tokenization timelines from months to weeks by leveraging smart-contract automation.
Significance of the Registration
In conventional markets, transfer agents maintain the cap table, manage ownership changes, and oversee dividends. An onchain transfer agent performs the same tasks but with a transparent ledger and programmable rules. This is a crucial component of market plumbing for institutions requiring compliance controls.
Plume views this registration as a gateway for asset managers who wish to transition into tokenized funds while maintaining investor protections. The company cites interest from 40 Act funds and believes the license will facilitate the migration of offchain securities into a compliant digital format.
The firm is also seeking additional licenses, including ATS and broker-dealer, to construct a comprehensive onchain capital markets stack for 40 Act funds. This move coincides with recent indications from the SEC of its openness to engagement on RWA tokenization projects.
Shortly after the announcement, PLUME’s value increased from approximately $0.10 to an intraday high of nearly $0.133, before settling around $0.124 by 18:06 UTC+3.
