Kimber Digital Securities gains broker-dealer status for tokenized assets

Kimber Digital Securities, an affiliate of blockchain network Plume, said Tuesday it had registered as a broker-dealer with the US Securities and Exchange Commission and joined the Financial Industry Regulatory Authority.

In its announcement, the company said it plans to offer tokenized US stocks, exchange-traded funds (ETFs) and bonds that investors could hold in self-custodial wallets. The company gave no launch date.

Tokenized stocks are digital tokens that represent company shares or rights tied to those shares. Transfers of the tokens are recorded on a blockchain. The rights investors receive depend on how the tokens are structured.

Unlike wrapped securities, the proposed tokens would represent existing ownership rights recorded through the Depository Trust Company (DTC).