Plume Network, a layer-2 blockchain specializing in real-world asset (RWA) tokenization, has officially registered as a transfer agent with the United States Securities and Exchange Commission (SEC) — a major regulatory milestone that positions it to bridge traditional financial markets with blockchain infrastructure.

Announced on social media on Monday, the registration grants Plume the authority to manage tokenized securities under U.S. federal law, a crucial step toward integrating compliant, onchain financial operations with the traditional capital markets system.

Related reporting: SEC Staff Opens Door for Advisers to Use State Trust Companies as Crypto Custodians

A Regulatory Bridge Between Wall Street and Web3

Transfer agents play a critical role in traditional finance — maintaining shareholder records, overseeing ownership transfers, and managing dividend and interest payments. By obtaining SEC registration, Plume can now perform these same functions entirely onchain, providing a blockchain-native framework for investor recordkeeping, corporate actions, and capital formation.

The company said its platform will connect directly with SEC and DTCC systems (the Depository Trust and Clearing Corporation, responsible for clearing and settlement of most U.S. securities). This integration will allow issuers to automate compliance, reporting, and shareholder management — reducing costs and eliminating layers of intermediaries.

“This is about merging the best of both worlds,” Plume said in a statement. “We’re building the infrastructure that enables regulated institutions to operate natively onchain without sacrificing compliance.”

Plume’s SEC recognition comes less than a year after the firm raised $20 million in a December funding round led by Brevan Howard Digital, Galaxy Ventures, and Huan Ventures to accelerate its institutional tokenization platform. Since then, Plume reports facilitating over $62 million in tokenized fixed-income assets through its flagship product, Nest Credit, a yield-focused vault for institutional investors.

Institutional Adoption Still in Its Early Days

Despite the growing narrative around RWAs, Plume CEO Chris Yin believes true institutional adoption remains in its infancy. Speaking to Cointelegraph at Token2049 in Dubai, Yin compared the current RWA landscape to the early days of Bitcoin adoption.

“These things move incredibly slowly — you have to demonstrate tangible value and real adoption before institutions follow,” he said.

The global market for tokenized RWAs is estimated at $33 billion, encompassing tokenized Treasury bills, private credit, real estate, and commodities. However, Yin said most of that value remains concentrated in low-risk instruments like U.S. Treasuries, as institutional players cautiously explore blockchain-based yield products.

Yin argued that the greater potential of tokenization lies in transforming capital formation and ownership transparency, not just in generating yield.

“Tokenization opens new fundraising mechanisms, allows real-time investor engagement, and gives companies unprecedented visibility into their cap tables,” he said.

The Broader Push Toward Tokenized Markets

While venture capital inflows into crypto have slowed sharply this year, RWA infrastructure continues to attract significant funding, reflecting confidence in its real-world use cases. Industry leaders like BlackRock, Franklin Templeton, and Ondo Finance are already experimenting with onchain Treasury funds and tokenized money market products, paving the way for deeper institutional participation.

Meanwhile, platforms such as Robinhood and Kraken are exploring tokenized equity offerings, and U.S. regulators are weighing rule changes that could permit traditional stocks and bonds to be tokenized and traded on blockchain-based exchanges.

As the regulatory landscape evolves, Plume’s SEC registration positions it at the forefront of this convergence — enabling a compliant pathway for traditional securities to live onchain.