The Securitize IPO marks the debut of a leading provider for the tokenization of real-world assets on the New York Stock Exchange. From 2 July 2026, the company will trade under the ticker SECZ. A SPAC merger with Cantor Equity Partners II raised roughly USD 400 million in gross proceeds.
The platform represents funds, bonds and private equity stakes as digital tokens and makes them tradable for investors. To do so, the company holds the entire regulatory infrastructure for issuing, administering and trading digital securities. At the helm sits co-founder and CEO Carlos Domingo. The best-known product is BlackRock's BUIDL, the largest tokenized money market fund in the world. Since its launch in March 2024, it has grown to more than USD 3 billion. Overall, the provider manages more than USD 4 billion in tokenized assets. Its partners include Apollo, BlackRock, BNY, Hamilton Lane, KKR and VanEck.
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Securitize IPO backed by largest SPAC PIPE since 2021
A SPAC merger brings a private company to market through a publicly listed shell entity. As a result, it bypasses the lengthy IPO process. The route is common among technology firms that want to raise capital quickly and gain listed status. Securitize and Cantor Equity Partners II first announced their combination in October 2025. At its core sits a PIPE financing of USD 225 million. It is structured as 22,500,000 Class A shares at USD 10.00 each. The transaction values the company at USD 1.25 billion before the inflow of funds.
The terms read as institutional validation: fewer than 30 percent of Cantor Equity Partners II shareholders redeemed their shares. As a result, 71.5 percent of the trust assets remained in the company. Together with the oversubscribed PIPE round, the gross proceeds add up to roughly USD 400 million. The placement also counts as the largest SPAC PIPE for an operating company since 2021. This points to a rediscovery of the vehicle.
An affiliate of Cantor Fitzgerald, an established Wall Street house, acts as sponsor. Its former CEO Howard Lutnick now serves as US Secretary of Commerce, which lends the transaction political proximity. The shareholder meeting approved the combination on 29 June 2026. After the closing on 1 July 2026, the combined entity will operate as Securitize Corp. Subsequently, trading begins on the NYSE.
Licenses in the US and EU as a regulatory moat
In the US, Securitize is registered with the SEC as a broker-dealer, transfer agent, ATS operator and fund administrator. Each license covers part of the securities chain. The broker-dealer status permits issuance, while the ATS enables the secondary trading. The transfer agent function maintains the share register. As a result, the provider can map the entire lifecycle of a tokenized security within a regulated framework. This closed loop ultimately distinguishes the platform from purely technical tokenization services without their own approvals.
In the EU, the company is likewise authorized as an investment firm. It also operates as a Trading & Settlement System (TSS) under the DLT pilot regime. Instead, it replaces the route via existing central securities depositories, allowing securities trading and settlement directly on a blockchain for the first time. According to its own statement, Securitize is therefore the only company licensed in both the US and the EU. Benchmark Equity Research consequently rates the stock as "Buy" with a price target of USD 16. The analysts view this dual authorization as a central differentiating feature.
BlackRock's BUIDL fund as commercial anchor
BUIDL, the platform's flagship, is a tokenized money market fund that BlackRock launched on Ethereum in March 2024. The fund represents stakes in short-dated US Treasuries as blockchain tokens. It was also among BlackRock's first institutional tokenization products. Within just over two years, the managed volume grew to more than USD 3 billion. This made BUIDL the largest of its kind worldwide. The fund ultimately demonstrates that Securitize generated viable revenue even before the listing.
BlackRock BUIDL fund total assets (dark blue) and fee income (light blue) / Source: DeFi Llama
Originally, BUIDL started solely on Ethereum. Meanwhile, the fund is available on nine blockchains, among them Arbitrum, Aptos, Avalanche, BNB Chain, Optimism, Polygon and Solana. This multichain expansion follows the demand of institutional holders and shows a technologically agnostic approach. Here, Securitize keeps the infrastructure consistent across all networks. Beyond BUIDL, the platform furthermore manages mandates for Apollo, BNY, Hamilton Lane, KKR and VanEck. This partner ecosystem contributes in total to an overall volume of more than USD 4 billion.
RWA market doubles to USD 21 billion
Securitize places its listing in a phase of strong sector growth. The 15 leading protocols for the tokenization of real-world assets gained 128 percent within a year. This pushed the segment from USD 9.55 billion to USD 21.84 billion. The drivers remain institutional adoption and increasing regulatory clarity.
Over the longer term, consultancies see considerable potential. McKinsey estimates the tokenized asset universe at up to USD 2 trillion by 2030. By comparison, BCG sees as much as USD 16 trillion. With the listing, the company consequently positions itself as an infrastructure platform for this growth.
"Tokenization is now finding its way into the mainstream, and we are convinced that the status as a publicly listed company gives us the visibility, credibility and capital to lead the next phase of growth." - Carlos Domingo, Co-Founder & CEO Securitize
