Securitize, a BlackRock-backed tokenization firm, expects to begin trading on the New York Stock Exchange next week under the ticker symbol SECZ following the completion of a merger with a Cantor Fitzgerald-backed blank-check company. The transaction advanced this week when investors owning less than 30% of Cantor Equity Partners II's common shares elected to redeem their holdings in the SPAC, positioning Securitize to receive roughly $400 million in proceeds from the combination and related private financing. The public debut marks a milestone for tokenization as the technology transitions from theoretical infrastructure to a tool embraced by major financial institutions including BlackRock, Apollo, BNY, Hamilton Lane, and KKR.
SPAC Merger Delivers $400 Million in Proceeds
The transaction's realization inched closer this week when investors owning less than 30% of Cantor Equity Partners II's common shares elected to redeem their holdings in the SPAC. Securitize expects to receive roughly $400 million in proceeds from the combination and related private financing ahead of the deal's closing. The company's CEO Carlos Domingo stated that the public listing provides "the visibility, credibility, and capital to lead" as tokenization moves into the mainstream. Securitize was established eight years ago.
BlackRock and Institutional Clients Drive $4 Billion in Assets Under Management
Securitize noted that, as of June, the company had more than $4 billion worth of assets under management. The largest product the firm services is BlackRock's BUIDL, which was valued at $2.4 billion on Friday, according to RWA.xyz. BlackRock tapped Securitize for a tokenized money market fund in 2024. In March, Securitize unveiled an agreement with the NYSE to develop systems for blockchain-native securities. Other institutional clients include Apollo, BNY, Hamilton Lane, and KKR.
SEC Delays Innovation Exemption for Tokenized Stocks
Last month, the SEC reportedly delayed an innovation exemption for tokenized stocks after concerns were raised about third-party issuers, which have the potential to complicate corporate actions and governance duties via tokens issued on-chain, per Bloomberg. SEC chair Paul Atkins has described tokenization as technology that has the "potential to transform markets" through streamlined trading, echoing comments made by BlackRock CEO Larry Fink during the crypto market depths in 2022. Securitize CEO Carlos Domingo has advocated for "native" tokenization, arguing that securities must be issued directly on-chain rather than wrapped in digital shells.
FAQ
What is Securitize's NYSE ticker symbol after the SPAC merger?
Securitize expects to trade on the New York Stock Exchange under the ticker symbol SECZ following the completion of a merger with a Cantor Fitzgerald-backed blank-check firm.
How much money will Securitize receive from the SPAC transaction?
Securitize expects to receive roughly $400 million in proceeds from the SPAC combination and related private financing after investors owning less than 30% of Cantor Equity Partners II's common shares elected to redeem their holdings.
What is the value of Securitize's assets under management?
As of June, Securitize had more than $4 billion worth of assets under management, with BlackRock's BUIDL product valued at $2.4 billion on Friday according to RWA.xyz.
