- Kimber Digital Securities secured FINRA membership and SEC broker-dealer registration.
- Planned tokens would represent securities entitlements within the existing custody system.
- DTC access and stablecoin-related investment services remain under development.
Plume said its affiliate Kimber Digital Securities secured FINRA membership and SEC broker-dealer registration on November 10. The announcement supports plans to distribute tokenized U.S. stocks, exchange-traded funds and bonds through digital wallets. However, it distinguishes the completed registration from planned services, including access to DTC tokenized entitlements and stablecoin-related investment products that remain under development.
Plume Plans Tokens Backed by Existing Securities Entitlements
The proposed structure would record an investor’s security entitlement onchain while preserving the established custody chain. Eligible assets could sit in self-custodial wallets without removing the underlying position from conventional securities infrastructure.
Plume says investors would hold claims against the broker-dealer, supported by corresponding entitlements at the Depository Trust Company. DTC’s nominee, Cede & Co., would remain the registered holder of the underlying securities.
This distinction matters because a wallet-held token would not make its owner the issuer’s directly registered shareholder. Instead, it would represent the beneficial interest described in the custody arrangement, including applicable dividend and voting rights.
The firm also intends to support portfolio transfers between traditional and onchain formats through ACATS. The announcement does not establish that these capabilities are already available.
Plume Targets Stablecoin Users With Regulated Fund Access
The broker-dealer plans to connect stablecoin applications with regulated investment products, including tokenized shares in funds managed by U.S. firms. This would provide access to separate investments, rather than establish guaranteed interest payments on stablecoin balances.
Plume already has an affiliated transfer agent responsible for shareholder records, issuance, transfers and dividends. The new intermediary adds another regulated function to that structure.Â
The announcement reports $250 million in total value locked and approximately $1 billion in volume as of September 30. Those figures belong to the protocol and affiliated vaults, not the newly registered broker-dealer.
FINRA membership and SEC registration do not constitute regulatory endorsement of the company or its products. The disclosure also states that investment products lack FDIC insurance, carry no bank guarantee and may lose value.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
