Benchmark Equity Research maintained its Buy rating on tokenization infrastructure firm Securitize as the company's planned NYSE listing moved into final stages, setting a $16 price target tied to 2027 revenue projections of $178 million. The rating followed the SEC's declaration last week that the registration statement for Securitize's merger with Cantor Equity Partners II had become effective, clearing a key regulatory hurdle before a shareholder vote scheduled for June 29. The timing coincides with accelerating commercial adoption of tokenization infrastructure, according to Benchmark analyst Mark Palmer, who wrote in a note to investors on Wednesday that Securitize's competitive positioning is driven by a cross-jurisdictional regulatory stack that would-be competitors cannot quickly replicate.
If the shareholder vote is approved and customary closing conditions are met, the combined company is expected to trade on the NYSE under the ticker SECZ. Palmer wrote that Securitize could emerge as a listed company within days of the shareholder vote, adding that the key question for investors is not whether real-world asset tokenization will occur, but who will control the rails supporting it. "On that question, Securitize has separated itself from the field, in our view," Palmer wrote. "So, at a time when the sentiment around digital asset related equities has been at a low ebb, the company's stock is poised to be a positive outlier."
Securitize Operates Cross-Jurisdictional Regulatory Stack
Securitize's competitive positioning is driven by a cross-jurisdictional regulatory framework that would-be competitors cannot quickly replicate, according to the Benchmark note. The company operates as an SEC-registered broker-dealer, an SEC-regulated alternative trading system, an SEC-registered transfer agent, an exempt reporting adviser, and a fund administration affiliate in the U.S., Palmer said. It also holds a regulated trading and settlement license under the EU DLT Pilot Regime.
BlackRock and Computershare Partnerships Expand Platform Reach
Benchmark cited the deepening of Securitize's relationship with BlackRock as validation of its platform, highlighting its role as tokenization platform, transfer agent, and placement agent for the asset manager's BUIDL fund, which has grown to about $2.46 billion in assets since launching in March 2024. BlackRock selected Securitize to support its proposed Daily Reinvestment Stablecoin Reserve Vehicle, the note said.
Securitize partnered with Computershare in a move announced in late April that extends its capabilities into public equities. Under the arrangement, Computershare is supporting U.S.-listed clients seeking to issue equity securities in tokenized form through Securitize's technology.
On the demand side, Benchmark noted that tokenized assets are shifting from static wrappers into programmable collateral, pointing to VanEck's Securitize-issued Treasury fund going live on the DeFi lending platform Euler in late May.
Securitize Holds $3.4 Billion Tokenized AUM as of March 31
As of March 31, Securitize held $3.4 billion in tokenized assets under management, positioned inside a broader tokenized asset market that nearly tripled over the past year to surpass $30 billion, according to the Benchmark note. The firm flagged risks to its bullish thesis including regulatory uncertainty, adoption speed, and partner dependencies.
FAQ
What price target did Benchmark set for Securitize ahead of its NYSE listing?
Benchmark Equity Research set a $16 price target for Securitize, tied to 2027 revenue projections of $178 million, while maintaining its Buy rating as the company's planned NYSE listing moved into final stages.
When is the shareholder vote scheduled for Securitize's merger with Cantor Equity Partners II?
The shareholder vote is scheduled for June 29. If approved and customary closing conditions are met, the combined company is expected to trade on the NYSE under the ticker SECZ.
How much in tokenized assets does Securitize hold under management?
As of March 31, Securitize held $3.4 billion in tokenized assets under management, positioned within a broader tokenized asset market that surpassed $30 billion.
