Kimber Labs, a real-world assets company operating as Plume, said it had taken a regulatory step forward in the race to put “real” U.S. assets on blockchain rails.
Its affiliate, Kimber Digital Securities (KDS), secured registration with the Securities and Exchange Commission (SEC) and membership approval from the Financial Industry Regulatory Authority (Finra), becoming a broker-dealer.
The approvals allow it to buy and sell securities for customers, according to an announcement shared with CoinDesk on Tuesday.
In practice, the platform bypasses the synthetic "wrapped tokens" common in crypto and connects directly to the foundation of U.S. financial market infrastructure, giving digital tokens the same legal rights, dividends and voting power as traditional investments.
Access to DTC
The registration gives KDS customers access to the Depository Trust Company (DTC), the central securities depository for U.S. markets, which, according to the statement, it says holds more than $100 trillion in assets.
“Investors will be able to hold eligible stocks, ETFs, and bonds in their self-custodial wallets while keeping the book-entry claim that’s already recorded at the DTC,” the company said.
The tokens represent an entitlement carrying the same rights as conventional assets, including dividends, voting entitlements and a direct claim on the underlying asset.
In other words, the registration brings legacy U.S. market infrastructure directly onto a public EVM (Ethereum-compatible) blockchain. Once KDS launches, users will be able to hold digital claims on U.S. financial assets directly in a self-custodial wallet.
“DTC entitlements give these tokens what most onchain assets lack: a settled, recognized claim on the real U.S. equity, ETF, or bond asset,” the company said.
The target audience is stablecoin users, or users of digital tokens pegged in value to an external reference, such as the U.S. dollar. KDS will allow stablecoin apps to offer customers “access to SEC-regulated yield-bearing products, including tokenized shares in funds managed by leading U.S. asset managers,” as U.S. stablecoin rules under the GENIUS Act come into effect.
“Stablecoins are bringing a new generation onchain,” Chris Yin, Plume’s CEO and co-founder, said in the statement. “What keeps them there is yield and access to real investment opportunities with full regulatory protections. Our broker-dealer is how we keep those users onchain and how we connect American investors to the emerging onchain capital markets we’ve spent years building the infrastructure to support.”
Source: www.coindesk.com. Adapted by NBTC.
Add A Comment
Comments are closed.