Plume Network (PLUME) has been approved by the U.S. Securities and Exchange Commission (SEC) as an official transfer agent. This step allows for the management of digital securities and shareholder registries directly on the blockchain, in integration with the U.S. central clearinghouse, the DTCC. Following the approval, the network’s native token, PLUME, gained 24 percent in value in the last 24 hours, while trading volume increased by 211 percent, according to CoinMarketCap data. Chart showing the rise in PLUME price. Plume Network, a modular Layer 2 blockchain built on “real-world assets” (RWA), aims to facilitate the issuance, transfer, and management of tokenized securities. The company plans to establish a fully regulated blockchain capital markets infrastructure by obtaining Alternative Trading System (ATS) and brokerage licenses in the next phase. Chris Yin, CEO and co-founder of Plume, said the following in a statement on the subject: “Transfer agent regulations exist to protect investors' rights as shareholders. We are completely redefining this structure on-chain. In collaboration with regulators, we are making the issuance of digital securities much more transparent and faster.” Yin also stated, “The crypto industry has long been searching for a bridge that combines the speed of DeFi with the security of traditional finance. With this license, Plume is at the center of that search.” Related News: CFTC's Most Likely Candidate Revealed - Here Are Their Views on Cryptocurrency In the traditional financial world, transfer agents are the institutions that maintain company shareholder records, manage ownership changes, and process dividend payments. Blockchain-based transfer agents like Plume completely digitize these processes, providing transparent and immutable records. Plume's SEC approval creates a crucial foundation for major institutions like BlackRock, Fidelity, and Apollo to conduct regulatory-compliant on-chain asset transfers. The company's contributions to this process are particularly prominent in discussions with regulators under the GENIUS Act. *This is not investment advice. Continue Reading: News from the SEC Caused This Altcoin’s Price to Skyrocket
