Plume Network, a modular Layer 2 blockchain dedicated to real-world assets (RWA), has received a commercial license from the Abu Dhabi Global Market Registration Authority (ADGM), paving the way for expansion in the Middle East.
The license allows Plume to scale RWA origination and distribution in the Middle East, Africa and emerging markets, pending further approvals at ADGM, the UAE’s leading international financial center known for its progressive fintech and digital asset rules.
This would help Plume, one of the leading blockchains by number of RWA holders, establish a foothold in the region that is attracting global banks, fintech companies and asset managers, including BlackRock, Deutsche Bank and crypto companies like QCP.
Abu Dhabi is also home to major sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA, the largest in the world with more than $1 trillion in assets under management) and Mubadala Investment Company.
“The UAE and the Middle East in general are quickly becoming global leaders in the tokenization of real-world assets,” said Chris Yin, co-founder and CEO of Plume, in the press release shared with CoinDesk.
“The region’s progressive regulatory frameworks, institutional openness to digital finance, and ambition to diversify beyond traditional commodities 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 real-world compliant tokenization,” Yin added.
The move builds on Plume’s momentum in the US, including a recent transfer agent license from the US SEC for the issuance and management of tokenized securities.
The latest ADGM approval is a general trading license and does not authorize participation in regulated activities such as token issuance or custody. However, the company is exploring partnership plans with local institutions and its own authorization for tokenization services.
A permanent office in Abu Dhabi is planned for the end of the year, with commercial announcements planned for early 2026, along with local hires and links with regional banks and fintechs.
Plume’s geographic focus spans the United States, Asia and the Middle East, taking advantage of pro-RWA regimes in the UAE’s free zones, such as ADGM.
