Real-world asset (RWA) tokenization platform Securitize Holdings has filed a public registration statement with the U.S. Securities and Exchange Commission (SEC), announcing plans to go public through a merger with blank-check company Cantor Equity Partners II (CEPT).
In the Wednesday filing, the company also reported that its total revenues for the first nine months of 2025 reached $55.6 million, an 841% increase from the same period in 2024. Full-year revenue for 2024 came in at $18.8 million, a 129% increase from the $8.2 million made in 2023.
Securitize to Go Public via Merger With Cantor Equity Partners II
Securitize’s filing moves forward with its October announcement that it would merge with Cantor Fitzgerald-backed special purpose acquisition company (SPAC), Cantor Equity Partners II.
The company provides infrastructure that enables businesses and institutions to convert traditional financial assets – such as private equity, real estate, bonds, and even U.S. Treasuries – into digital tokens issued on a blockchain. These tokens have fractional ownership, enhanced liquidity, and streamlined compliance, making traditionally illiquid assets more accessible to a broader range of investors.
Securitize said the deal would value the company at $1.24 billion in pre-transaction enterprise value and would include a $225 million Private Investment in Public Equity (PIPE), a financing method where institutional investors buy shares in a private placement. However, the merger deal, expected to close in the first half of this year, still needs shareholder approval and SEC clearance before it can be finalized. Once completed, Securitize would begin trading on Nasdaq as a public company under the SECZ ticker.
The tokenization platform has $4 billion in assets under management and established partnerships with blue-chip institutional players, including BlackRock, Apollo, Hamilton Lane, and VanEck. The company’s revenues have soared as the real-world asset tokenization market boomed over the past year.
RWA Tokenization Market Set to Reach $19T by 2033
Finance and investment giants JPMorgan and BlackRock increasingly include tokenized assets in their offerings. JPMorgan’s Kinexys platform has already processed more than $1.5 trillion in tokenized transactions, with over $2 billion in daily volume. Meanwhile, BlackRock’s tokenized U.S. dollar money market fund (BUIDL), issued in partnership with Securitize, is increasingly being used in decentralized finance (DeFi) and nearing an AUM of $2 billion.
A recent report by the Boston Consulting Group and Ripple estimates the market to grow to a valuation of $18.9 trillion by 2033. According to data from RWA.xyz, the on-chain value of tokenized assets has surged 310% over the past 12 months.
The market currently sits at an all-time high valuation of $24.2 billion, with 40% of that total in tokenized U.S. Treasuries, 20% in tokenized commodities, 11% in tokenized private credit, and the rest held in tokenized alternative funds, corporate bonds, non-U.S. government debt, and private and public equity. Ethereum dominates the RWA tokenization space, with a 65% market share when its layer-2 networks are included.
NYSE Plans 24/7 Platform for Trading Tokenized Stocks, ETFs
Earlier this month, reports indicated that the New York Stock Exchange (NYSE) is developing a new platform for trading tokenized stocks and exchange-traded funds (ETFs), as part of a broader effort to modernize market infrastructure using blockchain technology.
The platform is designed to support 24/7 trading and instant settlement, combining the ‘Pillar’ matching engine of the NYSE’s parent company, the Intercontinental Exchange (ICE), with blockchain-based post-trade systems, including multi-chain support for custody and settlement. Under the proposal, trades could be funded and settled in real-time using stablecoins, rather than the one-day settlement cycle currently used in U.S. equity markets.
ICE is working with banks, including BNY and Citibank, to support tokenized deposits across its clearinghouses to help investors manage their money outside traditional banking hours. The company operates six clearing houses globally, including the world’s largest energy and credit default swap clearing houses.
