The platform provider for tokenizing real world assets (RWA) will offer its expertise in compliance standards to the group.
Officials at Plume say that the platform provider for tokenizing real-world assets (RWA) has joined the Digital Assets Solutions Industry Working Group, a major tokenization effort of the Depository Trust & Clearing Corp. (DTCC), and will offer its “expertise in compliance standards.”
Announced in May, the working group represents “a broad cross-section” of traditional and decentralized finance sectors such as custodians, asset managers, brokers, trading venues, application and back-office service providers. The working group is helping develop the Depository Trust Company’s (DTC’s) tokenization service. More than 50 financial services industry firms have joined the effort, such as Charles Schwab, AlpacaHQ, Nasdaq, and BlackRock.
In addition to offering feedback, the group will “facilitate ongoing, robust dialogue that drives widespread digital assets adoption and advances innovation,” according to Plume, which describes itself as “the first RWA chain for crypto natives, backed by Haun Ventures, Galaxy, Superscrypt and more.”
“We look forward to contributing to this initiative and leveraging our expertise in compliance standards,” according to the Plume announcement. “We work with world-class security partners to scan every transaction at the sequencer level, before it’s ever included on chain. Through Kimber Transfer Agency, a SEC-registered transfer agent, Plume maintains an official record of ownership for tokenized securities.”
A major securities operations solutions and infrastructure provider, the DTCC and its subsidiaries processed securities transactions valued at $4.7 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $114 trillion, officials say.
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