Securitize Advances Toward NYSE Debut After Receiving SEC Approval for Tokenization Platform
The tokenization platform Securitize has received SEC approval for its merger with Cantor Fitzgerald via SPAC, bringing the company closer to trading on the NYSE as SECZ.
The real-world asset tokenization platform known as Securitize has moved significantly closer to becoming a publicly traded entity through a merger with a special acquisition company (SPAC), following the US Securities and Exchange Commission's approval of one of its regulatory filings.
According to Carlos Domingo, who serves as co-founder and CEO of Securitize, this development represents "another important milestone for Securitize and for the broader institutional adoption of tokenization."
A shareholder vote has been scheduled for June 29, and should it receive approval, the newly merged entity will begin trading on the New York Stock Exchange under the name Securitize Corp, using the ticker symbol "SECZ," providing market participants with exposure to one of the world's most prominent real-world asset tokenization platforms.
The company currently manages $4 billion in assets under management and provides tokenized fund products through strategic partnerships with major asset management firms, such as Apollo, BlackRock, BNY, VanEck and additional industry leaders. During the first quarter, Securitize generated revenue of $19.5 million, representing a 39% increase compared to the same period in the previous year.
In March, the NYSE entered into a memorandum of understanding with Securitize as a component of a wider initiative aimed at building blockchain-powered stock trading infrastructure for the financial institutions on Wall Street.
Tokenized RWA onchain value up 220% in 12 months
Real-world assets that have been tokenized, including equities and US Treasuries, have demonstrated robust growth in recent months, even as the cryptocurrency market at large has experienced bearish conditions.
The total value of RWA on-chain reached an all-time high of $32 billion during May, when stablecoins are excluded from the calculation, representing an approximately 220% surge throughout the preceding 12 months.
Tokenized US Treasuries account for nearly half of all on-chain assets, while tokenized commodities comprise approximately 16%, based on data from RWA.xyz. The market share for tokenized stocks remains comparatively modest at just 4.8%, equivalent to $1.5 billion in value.
When it comes to blockchain platforms used for tokenization, Ethereum and its layer-2 scaling networks continue to lead the industry, collectively commanding more than 60% market dominance.