Plume, an open finance platform focused on institutional assets, has launched its nBND vault, offering investors access to a tokenised structure backed primarily by the Fidelity Total Bond ETF (FBND).
The launch gives onchain investors exposure to a broader mix of fixed income assets through Fidelity’s actively managed bond fund. FBND invests primarily across investment-grade, high-yield and emerging markets debt, moving beyond the short-duration government securities that have dominated tokenised fixed income to date.
Plume said the product is intended to support the development of a broader onchain bond market rather than simply provide another source of yield. The company believes blockchain-based capital markets will need access to a wider selection of established financial assets if they are to develop beyond their current use cases.
The firm highlighted the expansion of tokenised US Treasuries as evidence of growing demand for onchain fixed income. The market increased from $12bn in April 2026 to $15bn by June, according to Plume. However, the company noted that this remains a small portion of the global fixed income market, which it puts at more than $100tn.
Plume said bringing more traditional financial assets onto blockchain networks will require greater collaboration between digital asset firms and established financial institutions. It argues that digital asset native infrastructure can provide programmability and accessibility, while traditional financial firms bring decades of experience managing investment products and assets.
The company said institutional interest in established assets that generate yield onchain is already evident, with nBND intended to build on that demand by introducing greater duration and active management to the tokenised fixed income market.
Plume describes itself as an institutional open finance platform that serves more than half of real-world asset holders. Its platform is designed to move institutional assets from closed financial systems into open and programmable markets accessible globally.
Its Plume Nest Vaults protocol provides compliant, non-custodial access to assets from financial firms including Apollo, WisdomTree and Hamilton Lane.
Plume’s backers include Apollo Global Management, Galaxy Digital and Brevan Howard. The company also has an SEC transfer-agent registration through Kimber Transfer Agency LLC.
Plume CEO and co-founder Chris Yin said, “While the onchain fixed income market was originally concentrated in short-duration Treasuries and money market equivalents, these are the starting points, not the destination. Institutional allocators want duration, and active management, the same building blocks they use offchain.”
Fidelity Investments head of digital asset management Cynthia Lo Bessette said, “As tokenised assets and on-chain applications become more integrated into mainstream market infrastructure, a collaborative ecosystem is essential to expanding investment access. We’re excited to collaborate with Plume to bring financial products on-chain, providing a broader set of investors with access to greater programmability to build custom portfolios, alongside investment solutions that unlock new forms of collateral utility and access to capital.”
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