Bloom Subsidiary Kimber Wins FINRA Membership and SEC Registration on November 10
Key Facts
Kimber Digital Securities, a subsidiary of Kimber Labs, known as Bloom, announced on November 10, 2026, that it had obtained membership in the Financial Industry Regulatory Authority (FINRA) and registration as a broker-dealer with the U.S. Securities and Exchange Commission (SEC). The registration gives the company broker-dealer status, according to its statement, as part of an effort to link trading in tokenized securities entitlements to the existing custody and settlement infrastructure in the U.S. market. Kimber says the proposed token records a position within the existing securities chain of custody. The company described it by saying that "the token records a position within this existing chain, rather than a wrapper around an asset held off-chain." The announcement comes as the Depository Trust Company (DTC) works to enable the tokenization of eligible assets held by participants through its system.
According to Kimber's explanation, the model does not create a separate claim on an asset held outside the traditional infrastructure, but represents an entitlement linked to a security within the chain of custody. The announcement says this entitlement includes the rights associated with traditional securities, including distributions, voting rights and a direct claim on the underlying asset. The company describes the token as representing "the full entitlement carrying the same rights as traditional assets," including distributions, voting and a direct claim. The concept therefore links the recording of the token on-chain to investors' rights in the underlying security, as the company presents it. The ledger entry for the entitlement remains recorded with DTC, according to the announcement's description of the proposed holding structure.
The company says investors will be able to hold eligible stocks, exchange-traded funds and bonds in self-custody wallets, while the entitlement record remains with DTC. This description indicates that eligibility does not necessarily cover every security, but is limited to eligible instruments under the relevant arrangements. The announcement added that investors will be able to transfer entire portfolios between off-chain and on-chain formats through the Automated Customer Account Transfer Service, known as ACATS. Kimber said transfers would be available in both directions, from the traditional format to the tokenized one and vice versa. This places portfolio transfers among the functions the company describes alongside holding entitlements in self-custody wallets.
Kimber also links the registration to the safeguards of a regulated broker, citing best execution, independent oversight of operational and cyber risks, and ongoing disclosure. The company said these safeguards include "best execution, independent oversight of operational and cyber risks, and clear, ongoing disclosure." This description sets out the protections the company says will accompany its brokerage activity, without in itself meaning that every service described is available to investors. The announcement cautioned that some products, services and capabilities remain in development. These include access to tokenized DTC entitlements and stablecoin-related offerings, which may not yet be available.
On the timing of the start of operations, CoinDesk reported that the company is targeting a platform launch in the first half of 2027. It said the targeted products include yield-generating products and actual financial entitlements for users in the United States, with voting and distribution rights. That remains a target date, according to the report, while the company's statement says some capabilities are still in development. The statement also clarified that registration and regulatory membership do not constitute regulatory approval or endorsement of the products or services. This makes the launch timing and availability of services contingent on completing development, according to the sources.
The move follows Kimber Transfer Agency's registration with the U.S. Securities and Exchange Commission as a transfer agent in September 2025, according to the company's statement. The statement also said Bloom joined the Depository Trust & Clearing Corporation's (DTCC) Digital Solutions Working Group in August, and that it would work through its subsidiary to provide access to tokenized securities at DTC. DTCC launched a voluntary tokenization service on October 28, 2026, based on an SEC no-action letter issued in December 2025 and within a three-year authorization period. The program allows eligible participants to tokenize specified securities entitlements they hold through DTC, with its system recording the transfers in its official books. SEC Commissioner Hester Peirce described the program as an initial experiment subject to operational constraints, but said it was "an important incremental step in moving markets on-chain."
DTCC said more than 30 firms had participated in processing actual tokenized trades on July 15, 2026, ahead of the launch of its service in October. The authorization covers specified highly liquid assets, including constituents of the Russell 1000, funds tracking major indexes, and U.S. Treasury bills, bonds and notes. The Russell 1000 represents the 1,000 largest publicly listed U.S. companies by market capitalization, according to DTCC's description. In testimony before the House Financial Services Committee on March 25, 2026, Kimber Labs said its application to register a non-custodial broker-dealer and an on-chain alternative trading system was still pending with FINRA. The company's FINRA membership and SEC registration now mark a later development in that process, while the platform launch remains targeted for the first half of 2027.