Plume Network, a modular layer 2 blockchain dedicated to real world assets (RWA), has received a commercial license from the Abu Dhabi Global Market (ADGM) Registration Authority, paving the way for expansion into the Middle East.
The license will enable Plume to expand its RWA generation and distribution across the Middle East, Africa and emerging markets, pending further approval at ADGM, the UAE's leading international financial hub known for its forward-thinking fintech and digital asset rules.
This will help Plume, one of the top blockchains by number of RWA holders, gain a foothold in a region that is attracting global banks, fintech companies, and asset managers, including crypto companies such as BlackRock, Deutsche Bank, and QCP.
Abu Dhabi is also home to major sovereign wealth funds such as Abu Dhabi Investment Authority (ADIA, the world's largest with over $1 trillion in assets under management) and Mubadala Investment Company.
“The UAE and the broader Middle East are rapidly becoming global leaders in the tokenization of real-world assets,” Chris Yin, co-founder and CEO of Plume, said in a press release shared with CoinDesk.
“The region's progressive regulatory framework, institutional openness to digital finance, and ambition to diversify beyond traditional products make it an ideal environment for innovation. At Plume, we see the Middle East not just as a market, but as a strategic partner in shaping the future of compliant, real-world tokenization,” Yin added.
The move builds on Plume's momentum in the US, including its recent US SEC transfer agent license for the issuance and management of tokenized securities.
The latest ADGM approval is a general commercial license and does not permit participation in regulated activities such as token issuance or storage. However, the company is considering partnering plans with local institutions as well as its own licensing for tokenization services.
A permanent office in Abu Dhabi is expected to open by the end of the year, with a commercial announcement expected in early 2026, along with local hiring and collaboration with regional banks and fintechs.
Plume's geographic focus spans the US, Asia and the Middle East, leveraging pro-RWA regimes in UAE free zones such as ADGM.
