Securitize aims to raise $400 million as tokenization firm nears public debut
Key takeaways
- Tokenization — the process of representing assets such as funds, bonds and private credit on blockchain networks — has become one of Wall Street's fastest-growing digital asset initiatives.
- The firm is also helping the New York Stock Exchange build its tokenized securities platform earlier this year.
- "When we started more than eight years ago, the idea that major institutions would embrace tokenized securities was still largely theoretical," CEO Carlos Domingo said in a statement.
The company said Friday that, following lower-than-expected shareholder redemptions, the business combination with Cantor Equity Partners II (CEPT) is expected to generate roughly $400 million in gross proceeds, including private investment in private equity (PIPE) financing.
The transaction is scheduled to close on July 1, pending shareholder approval on June 29 and other customary closing conditions. The combined company is expected to begin trading on the New York Stock Exchange the following day under the ticker SECZ.
Tokenization — the process of representing assets such as funds, bonds and private credit on blockchain networks — has become one of Wall Street's fastest-growing digital asset initiatives. The market for tokenized real-world assets has grown to more than $30 billion excluding stablecoins, according to rwa.xyz, while Boston Consulting Group and Ripple project it could reach $18.9 trillion by 2033.