Securitize, a tokenization company for real-world assets (RWA) supported by BlackRock, will go public through a merger with a special purpose acquisition company (SPAC) at an estimated valuation of $1.25 billion.
According to an announcement on Tuesday, Securitize is merging with Cantor Equity Partners II, Inc., a blank check company sponsored by a subsidiary of financial services firm Cantor Fitzgerald, to list on Nasdaq. The company's co-founder and CEO Carlos Domingo stated, "The purpose of the company is to democratize capital markets by making them more accessible, transparent, and efficient through tokenization."
Domingo further mentioned that the next step is to make "financial markets operate at the speed of the internet." Howard Lutnick, chairman and CEO of Cantor Fitzgerald and also chairman of Cantor Equity Partners II, emphasized the "huge potential" of blockchain technology in transforming the financial sector.
Reports earlier this month indicated that Securitize was in talks with Cantor Fitzgerald regarding the listing through this structure.
Securitize is involved in so-called real-world assets, or traditional financial assets such as real estate, government bonds, commodities, or invoices, which are tokenized on the blockchain. Tokenization transforms their ownership or revenue rights into digital tokens, allowing them to be traded, used as collateral, or integrated into decentralized finance (DeFi) systems.
Securitize has previously secured funding from top global asset management firms including BlackRock, major investment firms like ARK Invest, and Morgan Stanley Investment Management. The company is also responsible for tokenizing BlackRock's BUIDL fund, which has recently been integrated into DeFi.
As a segment of the crypto industry, real-world assets (RWA) continue to grow, especially in light of the increasingly favorable regulatory environment in the U.S. In recent months, blockchain company Ondo Finance has urged the U.S. Securities and Exchange Commission (SEC) to delay or reject proposals for trading tokenized securities on Nasdaq, arguing that more regulation is needed.
Earlier this month, Rob Hadick, a general partner at crypto venture firm Dragonfly, stated that tokenized stocks would bring significant benefits to traditional markets but would have limited impact on the crypto industry. He noted that tokenized assets would enable 24/7 trading, but he does not believe institutions would "want to operate directly on these public chains," instead opting to operate within closed ecosystems.
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Original: “Securitize to go public through $1.25 billion merger supported by BlackRock”
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