After Plume registers as a Transfer Agent with the SEC, it will be able to directly manage the full lifecycle operations of tokenized securities (such as U.S. stocks and bonds) on-chain, including issuance, transfer, and dividends, all while fully complying with the U.S. regulatory framework, without needing to let third parties profit from the spread. Currently, there are about 900 entities registered as Transfer Agents, with roughly half being small entities. The application cost is not high, but there are significant requirements for the team's compliance capabilities and risk control levels. In addition to Plume, the crypto industry also has Ondo Finance, Superstate, Realio Network, Dinari Global, and CineBlock that have successfully registered as Transfer Agents with the SEC. For the Plume ecosystem, which focuses on tokenizing real-world asset yields and has the fastest user growth in RWAfi, this will significantly accelerate the growth of the ecosystem's RWA asset scale to meet the yield farming and diversified risk needs of RWAfi users.