Kimber Digital Securities Registers With SEC as Tokenized-Stock Broker-Dealer

Kimber Digital Securities, an affiliate of blockchain network Plume, said Tuesday it has registered as a broker-dealer with the US Securities and Exchange Commission and joined the Financial Industry Regulatory Authority (FINRA). The registration clears a regulatory path for the firm to distribute tokenized US stocks, ETFs and bonds that investors can hold in self-custodial wallets. The company gave no launch date.

What does the registration actually enable?

The firm's announcement sets out a product design that goes beyond typical wrapped-security offerings. Tokenized stocks are digital tokens representing company shares or rights tied to those shares, with transfers recorded on a blockchain. How much investors receive depends entirely on how each token is structured — a point that has kept many tokenized-equity products in regulatory gray zones.

Kimber says its tokens would represent existing ownership rights recorded through the Depository Trust Company (DTC), the central securities depository that settles most US equity trades. Investors would retain dividend and voting rights, according to the company, and could move eligible holdings between traditional brokerage accounts and onchain wallets.

That two-way transferability matters operationally. It means the tokens aren't a parallel claim sitting outside the settlement system — they're a delivery mechanism for rights that already exist inside it. For custody, compliance and tax reporting, that distinction determines whether a tokenized share behaves like a security or like an IOU.

Stablecoin yield products in the pipeline

Kimber also plans yield-bearing investment products aimed at stablecoin users, including tokenized shares in funds managed by major US asset managers. That puts the firm in direct competition with tokenized money-market offerings from the largest US issuers, which have driven most of the growth in tokenized funds to date.

How big is the market it's entering?

The tokenized stock sector has expanded fast. Onchain value of tokenized stocks has risen more than sixfold over the past year, climbing to $3.87 billion from $643.3 million in November 2025, according to RWA.xyz data.

Kimber's registration lands in a crowded 2027 pipeline. On Monday, Formation Securities announced plans for a Solana-based venue to trade tokenized shares of Galaxy Digital, Exodus Movement and Forward Industries, targeting an early-2027 launch. The New York Stock Exchange is building a 24/7 tokenized securities platform that uses Avalanche for settlement. Nasdaq is aiming for the second quarter of 2027 for its tokenized equity initiative with Payward, the parent company of Kraken.

What comes next?

The binding constraint now is execution, not licensing. Kimber holds the broker-dealer registration and FINRA membership, but hasn't disclosed a launch date, product structure details or which asset managers' funds will be tokenized. Expect scrutiny of the DTC-linked custody model once the first tokens go live — and a wave of competing launches clustering around early 2027.